Binance COIN-M Inverse Perp Negative-Funding Carry Basket — Long-Only, Multi-Asset, Harvest the Miner-Hedge Short Pressure That Keeps Coin-Margined Funding Persistently Negative (4H Bars, 0.06% RT Venue, 3-Parameter)

A LONG-ONLY, MULTI-INSTRUMENT funding-carry basket on BINANCE_CM (COIN-M inverse perpetuals) — the single most under-explored venue in the book at 2.8% of 1458 experiments against a >=5% quota, with only 41 lifetime attempts. It is a direct transplant of the factory's PROMOTED carry mechanism ('5-Asset Crypto Majors 4H Negative-Funding-Rate Long-Only Carry Basket', Sharpe 1.97, at paper) onto a venue where the same edge is STRUCTURALLY LARGER and CHEAPER to harvest. Why COIN-M specifically: coin-margined perps are the natural hedging instrument for miners, long-term holders, and BTC/ETH-denominated treasuries, who systematically SHORT them to hedge coin inventory without selling spot. That persistent one-sided short pressure pushes COIN-M funding negative more often and more deeply than the equivalent USD-M contract — and when funding is negative, LONGS ARE PAID. On top of that, COIN-M round-trip taker cost is ~0.06% versus ~0.10% on USD-M, a 40% cost reduction that directly widens the carry margin on a strategy whose entire PnL is a small recurring cash flow. Mechanism: at each 4H close, for every basket member whose current funding rate is sufficiently negative, hold an equal-weight LONG inverse perp and collect funding every 8h; exit when the carry decays. Universe anchors on the two deepest-history COIN-M contracts (BTCUSD_PERP, ETHUSD_PERP) plus liquid alt perps (SOLUSD_PERP, XRPUSD_PERP, BNBUSD_PERP, DOGEUSD_PERP) — ALL current perpetuals, never a bare index name and never an expired dated quarterly. Only 3 tuned parameters (entry_funding, exit_funding, max_positions) to hold down the best-of-N selection inflation that killed 202 prior hypotheses via overfit. No liquidation feed (avoids L3), no options legs (avoids L2), and strictly SINGLE-VENUE so it is not a two-legged cross-margin carry (avoids L1's most reliable fee_edge death entirely — there is one leg, two fills, ~6bps total).