PAXG–XAUT Cross-Venue Gold-Token Dislocation Convergence

Hypothesis

Derived by the Research Lead from ianzeng123's gold-token statistical-arbitrage framework: https://www.fmz.com/strategy/526812. Test PAXG against XAUT perpetuals using synchronized 4-HOUR bars. Retain the source's rich-token short/cheap-token long mechanism and frozen entry-mean exit; introduce slower sampling, cross-venue execution, a cost-aware deviation floor, capital-relative sizing and a holding limit. The linked video was not viewed. Signal-close market orders are the platform's equivalent of next-bar-open execution on these continuous venues. No independent opposing positions on one instrument, exchange-resting stops, queue priority or concurrent executor deadlines are required. Use all actual overlapping history, subject to Hyperliquid's approximately 5000-candle limit. Bybit contracts are documented in [Bybit's gold derivatives guide](https://www.bybit.com/en/learn/bybit-guide/bybit-gold-derivatives-trading); PAXG backing is described in [Paxos documentation](https://docs.paxos.com/guides/stablecoin/paxg).