Hyperliquid ETH 1H Volatility-Regime-Gated Momentum Continuation Long+Short

A long+short directional momentum-continuation strategy on ETHUSD perpetual at Hyperliquid using 1H bars. The strategy is OHLCV-only (no liquidation/funding/cross-venue dependencies — avoiding the 13+ infrastructure-blocked abandons this session). Core mechanism: gated z-score momentum. (1) A volatility-regime gate computes 30-day realized vol of 1H log returns and only allows entries when current realized vol sits in the middle 60% of its 30-day distribution — this kills both dead-quiet whipsaw ranges and extreme-vol blowoffs that cause IS/OOS divergence. (2) Within the allowed regime, compute the 4-bar (4H) log return; enter LONG when it exceeds +1.2σ of the trailing 48-bar return distribution; enter SHORT when it falls below -1.2σ. (3) Position sizing is volatility-targeted: notional = (target_vol / realized_vol) × equity × 0.30, capped at 0.50 equity, leverage ≤ 3x. Hyperliquid is chosen because (a) its venue is at 4.4% vs 20% quota target, (b) HL order flow has a different participant mix than Binance — heavier retail/momentum-chaser presence, fewer high-frequency market-makers — which empirically extends the half-life of intraday momentum past what Binance allows, (c) HL fees are 0.09% RT, friendlier than Binance perp (0.10% RT). The 1H timeframe produces ~150-300 entries/year across 3+ years of HL ETH history — well above the walk-forward floor (5+ trades/OOS window) that killed 13 daily strategies this session.