Market-neutral cross-venue carry strategy that captures the funding-rate DIFFERENTIAL between HYPERLIQUID and BINANCE USD-M for the same underlying (BTC). This is structurally distinct from BtcEthFundingDifferentialSpread already in pipeline (which trades cross-ASSET, same-venue funding differentials BTC vs ETH on HL) — this hypothesis trades cross-VENUE, same-asset funding differentials (HL vs BINANCE on BTC). Both venues quote BTC perp funding but have DIFFERENT participant bases and DIFFERENT funding cycles: BINANCE uses 8-hour funding dominated by institutional/global flow; HYPERLIQUID uses HOURLY funding dominated by sophisticated/degen retail flow. The funding rates on the two venues can persistently diverge (one venue's funding > the other's by 5–25 bps annualized) because of these structural differences. Strategy: when HL_funding − BIN_funding_normalized > +0.02% / 8h equivalent, HL is paying longs more (or charging shorts less) than Binance → LONG HL BTC + SHORT Binance BTC, collect the funding differential as carry while remaining delta-neutral. When the spread inverts, flip the legs. Mechanism explicitly addresses the abandoned BTC COIN-M Funding strategy's post-mortem recommendation: 'cross-asset funding spreads (BTC vs ETH funding differential as a relative-value signal)' — this is the SAME-ASSET, CROSS-VENUE generalization which is even cleaner because it eliminates asset-specific factor noise. Fills FOUR under-represented quotas SIMULTANEOUSLY: HYPERLIQUID (4.4% vs 20% target), cross-venue (4.9% vs 15% target), long-short (9.8% vs 45% target), pairs scope (14.4%). NOT a classical pattern. NOT single-venue. NOT single-asset directional. NOT a fade-the-spike (dead). A carry strategy with structural diversification value AND under-represented venue exposure.