🐈Hyperliquid 资金费率套利策略

产品概述

Hyperithm 跨交易所资金费率套利策略库采用多种市场中性策略，旨在创造与加密货币市场方向无关的收益。

资金将在这些策略及精选机会性交易之间进行动态配置，并通过严格的风险控制机制，将方向性风险敞口维持在极低水平，同时确保保证金结构稳健健康。

核心策略:

• 跨交易所资金费率套利

通过捕捉多个中心化与去中心化永续合约市场间的定价偏离来获取息差收益。

Hyperithm 跨交易所资金费率套利策略旨在通过利用多策略间的结构性市场低效，提供持续且经风险调整的回报。

跨交易所资金费率套利策略

跨交易所资金费率套利策略是通过捕捉中心化与去中心化永续合约市场间的资金费率差异来获取收益。

当不同交易场所的资金费率出现偏离时，该策略通过建立现货多头与永续合约空头的对冲头寸，在保持 delta 中性的同时赚取利差。

该策略覆盖以下交易所平台：

• Lighter

• Drift

• Hyperliquid

• OKX

• Binance

• Gate

• Bybit

收益来源

• 永续合约资金费用

• 现货与期货市场间的价格低效

• 借贷利率差异

资产覆盖范围

• 本策略覆盖中心化交易所与去中心化永续合约平台中高资金费率资产（根据资金费率套利机会动态筛选）。

风险提示及管理

• Smart Contract Risk: Blockchain-based code may contain bugs, vulnerabilities, or economic design flaws that can lead to unintended behaviour, loss of funds, or system failure. Neutral Strategy Vaults have undergone 3 independent audits by Halborn, Quantstamp, and Offside Labs to mitigate Smart Contract Risks.

• 清算/自动减仓风险（Liquidation/ADL Risk）: 即使保持 delta 中性持仓，极端价格波动仍可能因保证金要求、保险基金机制或交易所特定风控规则，触发期货交易场所的强制清算或自动减仓事件。

  • 风险缓释措施:

    • 采用高流动性代币并持续再平衡，以降低自动减仓（ADL）序列中的顺位风险。

    • 所有仓位构建均是中性的，即便在高波动期间也能有效降低方向性风险敞口。

    • 资金配置综合考虑了各交易场所的保证金效率、交叉保证金相互作用及清算阈值。

    • 严格执行风险敞口限额与平台级持仓上限，避免过度集中，维护策略运行的稳健性。

• Funding Rate Exposure: While price exposure is hedged, funding rate exposure remains. Changes or reversals in funding rates can reduce expected returns or temporarily impact PnL.

  • Mitigation:

    • Funding and borrowing rates are monitored 24/7 continuously, and positions are adjusted when the expected net yield no longer compensates for execution costs or margin usage.

    • The strategy is designed to adapt to rapid funding regime changes, including sign flips and crowding.

• Operational Counterparty Risks: A critical service provider may face financial, operational, or security failures that could impair fund operations. Such events may result in delayed redemptions, suspended token trading, or, in severe cases, loss of the fund’s underlying assets.

  • Mitigation:

    • Copper and Ceffu mitigate centralized exchange counterparty risk by holding assets in independent custody while enabling off-exchange settlement via ClearLoop and MirrorX. Assets remain under custodian control rather than on exchange balance sheets, reducing exposure to exchange insolvency or misuse.

    • Funds are deployed through Neutral Trade’s Neutral Strategy Vaults and protected by Fordefi’s MPC infrastructure. While curators can adjust and manage yield strategies through API access, they have no authority to access or withdraw user assets, with security enforced by robust policies, themselves guarded by Admin Quorum.

    • Assets in Neutral Strategy Vaults are routed only through whitelisted contracts and venues, with deposits processed automatically and no exposure to hot wallets or private keys. This setup enables secure multi-chain trading while restricting activity to pre-approved protocols and tokens.

费用

绩效分成 - 20%

年度服务费 - 0%

提取费用 - 0.3%