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BitMEX Alpha: Equity Perp Funding Arbitrage on Hyperliquid

While the broader DeFi market fights over 5% yields, a structural arbitrage trade is emerging thanks to equity perps. Retail demand for leverage on high-beta tickers like $ NVDA is creating a funding rate premium that institutional capital cannot easily arbitrage away just yet. BitMEX’s invention of the Perpetual Swap created a new way to make money in crypto. Now, that same mechanic is eating the traditional equity market. We believe

8 December 2025



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