Hyperliquid Spot–Perpetual Aggressor Disagreement: HBAR, XLM and ETC

Hypothesis

Test whether sustained Binance spot buying against perpetual selling, or spot selling against perpetual buying, predicts multi-day adjustment toward the spot flow. Trade Hyperliquid perpetuals on completed 4-HOUR decision bars; Binance spot and USD-M instruments supply actual aggressor-signed trade-tick signals only. Baseline accumulation is 48 hours and holding time is 72 hours. Expected frequency is 12–30 entries per asset/year, an untested prediction. Market orders execute at signal-bar close, the registry equivalent of next-bar-open execution on continuous venues. Protective stops trigger intrabar through platform matching. Use all common available history; do not assume Hyperliquid's approximately 2.3-year 4H API coverage can be extended retrospectively. Input definitions follow [Binance public-data documentation](https://github.com/binance/binance-public-data); fees follow [Hyperliquid official documentation](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees). These sources document inputs and costs, not evidence for this edge.