Question 1

What is funding rate arbitrage?

Accepted Answer

You hold the coin on spot and short an equal amount of the perpetual. The position is delta-neutral (price-hedged), and you collect the funding the longs pay the shorts. It’s the crypto version of cash-and-carry.

Question 2

What are the risks?

Accepted Answer

Funding can turn negative (you'd pay), the two legs can de-peg briefly, and exchange or liquidation risk exists if the short isn't fully margined. Fees also eat into the yield, so it only works when funding is meaningfully positive.

資金調達レート裁定取引計算機

デルタニュートラルだがリスクがないわけではない