BitMEX Blog – Cryptocurrency Trading Insights & Market Analysis
TL;DR Funding carry trades on major crypto has been crushed by institutional basis capital this cycle. On XAUtUSDT, a simple spot-perp carry on BitMEX has delivered roughly 9.67% annualised over the past 73 days, versus 5.99% on Hyperliquid and 3.22% on Bybit. On Brent Oil, the spread is far richer: long BRENTUSDT on BitMEX /…