BTC Inter-Exchange Funding-Rate Differential Carry (Binance USD-M vs Hyperliquid Perp, Delta-Neutral Long-Short)

A delta-neutral, cross-venue, two-leg carry strategy that harvests the persistent FUNDING-RATE DIFFERENTIAL between the BTC perpetual on Binance USD-M and the BTC perpetual on Hyperliquid. The two venues have different participant mixes (Binance: global retail + institutional; Hyperliquid: on-chain/DeFi-native flow), so their 8-hour funding rates routinely diverge while their mark prices stay tightly coupled (both track the same BTC spot index, basis typically < 0.10%). When venue A's funding is materially higher than venue B's, a trader who is LONG the cheaper-funding venue and SHORT the richer-funding venue collects the net funding differential each period while carrying ~zero net price exposure. This is NOT a price-pattern strategy (the class that has repeatedly failed this session) — it is a structural cash-flow harvest. It is also mechanically distinct from the in-pipeline ETH spot-perp funding-basis carry: this is perp-vs-perp ACROSS two exchanges, capturing the funding DIFFERENTIAL rather than an absolute spot-perp basis. Fills three under-represented quota buckets at once (cross-venue 6.7%→target 15%, HYPERLIQUID 5.8%→target 20%, long_short 14.1% vs long-only 85.9%). Deliberately minimal parameter count (3) to avoid the walk-forward overfitting that abandoned the RSI-bounce and Three-White-Soldiers strategies.