Funding carry
funding.whalestamp.com · Kraken perps · market-neutral
Predicting price is a game retail loses. Funding is different — a cash flow you get paid to hold, no
forecast required. This harvests it across the whole perp board: find the handful of contracts paying the most
to hold right now, hold them delta-neutral, rotate as funding shifts. Built in four disciplined phases so a
positive number has to survive out-of-sample before any capital is risked.
Readiness gate
Evaluating…
Phase 1 · the universe
Live cross-section — who pays the most right now
Every tracked perp ranked by annualized funding magnitude. This is available instantly; the higher and more one-sided, the more there is to harvest.
Phase 2 · the engine
Cross-sectional carry backtest
Hold the top-k highest-funding perps delta-neutral, rotate with hysteresis so fees don't churn it away, net of real fees. Compared against harvesting LTC alone — the whole point of picking from many.
Basket size
Min funding
Fee
Phase 3 · the discipline
Config lab — in-sample vs out-of-sample
Every config is scored on the first half of history (in-sample) and the second half it never saw (out-of-sample). Only out-of-sample Sharpe counts — a config that shines in-sample and dies out-of-sample is noise, and this is where most backtests lie to you.
Phase 4 · the gate
Prove, then risk
Capital only goes in when a config has held up out-of-sample with a real Sharpe over a meaningful window
(≥14 days). Until then it's research, not a trade — the gate at the top of the page is the honest verdict.
Basis risk and margin costs aren't modelled here; this sizes the opportunity, it isn't a live P&L.
Part of the whalestamp research stack. Not investment advice.