Reframe of a BTC-only negative-funding-squeeze carry whose MECHANISM was sound (in-sample DSR 0.79, Sharpe above the luck bar, clean 2020-2022 P&L) but whose TARGET decayed: BTC stopped printing deeply-negative funding after 2022, so the single-instrument entry fired zero times out-of-sample and the holdout was -6.05. Rather than wait for a regime that no longer occurs on BTC, this version harvests the SAME funding/squeeze edge CROSS-SECTIONALLY across a universe of ~12 liquid Binance USD-M altcoin perps, where deep funding skew still appears regularly during crowding episodes. Each rebalance the strategy ranks the universe by current funding rate and builds a DOLLAR-NEUTRAL book: LONG the bottom-decile (most-negative funding = crowded shorts paying longs, with short-squeeze convexity) and SHORT the top-decile (most-positive funding = crowded longs paying shorts). Both legs EARN funding by construction, and the market-neutral structure strips out crypto beta, directly addressing the directional blow-up (holdout -6.05) that killed the BTC long-only version. Funding is the primary cash flow; the squeeze on the long leg is upside convexity, not the thesis. 4H bars for timing; funding-rate stream for the ranking signal. Distinct from existing pairs/ratio trades: this is a cross-sectional funding FACTOR, not a two-name spread.