MAVIA Hyperliquid–Bybit Persistent Funding Segmentation Carry

Hypothesis

Test short MAVIAUSD.HYPERLIQUID against equal-base-quantity long MAVIAUSDT.BYBIT using synchronized 4-HOUR bars. The funding snapshot contains 980 overlapping daily observations from 2024-02-07 through 2026-10-13, with mean Hyperliquid-minus-Bybit settled funding of 0.0679019% daily. This is descriptive evidence, not a backtest. Instrument selection after comparing funding histories must count toward multiple-testing accounting. Market orders at synchronized signal-bar closes implement the registry's equivalent of next-bar-open execution on continuous venues. Normalize actual settlement payments by elapsed time: Hyperliquid settles hourly ([documentation](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/funding)); Bybit intervals are instrument-specific ([documentation](https://bybit-exchange.github.io/docs/v5/market/history-fund-rate)). Use the existing engine funding ledger without adding duplicate credits.