§ A field guide

Time is the variable that decides whether a displayed number is a fact or a fantasy.

01 / 03

The track record

Every signal the screener has fired, resolved by first touch: a 20% take profit or a 10% stop loss, whichever lands first. No cherry-picking, no quiet deletions. Wins and losses are both shown, each return printed next to the drawdown it took to get there. Most tools show you the winners. This one shows you the ledger.

Sourced direct from

Watch our system's track record live →

FIG. A · the perpetual, dissected

An exploded engraving of a perpetual futures contract drawn as a dissected clockwork instrument, parts labeled by analogy

How to Annualize a Funding Rate, and Why APR Projections Mislead ● Cash and Carry vs Funding Arbitrage: What's the Difference? ● What Is a Delta-Neutral Funding Strategy? ● Why "Delta-Neutral" Positions Still Get Liquidated ● Is Extreme Negative Funding Bullish or Bearish? ● Should You Fade Extreme Funding? ● Do Funding Rates Have Caps and Clamps, and When Do They Bind? ● How Does Funding Affect a Long-Term Leveraged Position? ● Can You Earn Yield Just by Collecting Funding? ● What Is Funding Rate Mean Reversion and How Fast Does It Happen? ● Why Did Funding Spike Right After a New Listing? ● What Is Funding Rate Arbitrage, and Does It Actually Work? ● Funding Rate vs Open Interest: How to Read Them Together ● What Does It Mean When Funding Is High but Price Is Flat? ● How Is the Funding Rate Actually Calculated? ● Liquidation Distance vs Expected Funding Capture: The Asymmetry ● What Is Cross-Venue Mark Price Divergence? ● Mark Price vs Index Price: Which One Determines Funding? ● Why Is Funding Negative After a Pump? ● What Happens to My Position When an Exchange Delists a Perp? ● How to Annualize a Funding Rate, and Why APR Projections Mislead ● Cash and Carry vs Funding Arbitrage: What's the Difference? ● What Is a Delta-Neutral Funding Strategy? ● Why "Delta-Neutral" Positions Still Get Liquidated ● Is Extreme Negative Funding Bullish or Bearish? ● Should You Fade Extreme Funding? ● Do Funding Rates Have Caps and Clamps, and When Do They Bind? ● How Does Funding Affect a Long-Term Leveraged Position? ● Can You Earn Yield Just by Collecting Funding? ● What Is Funding Rate Mean Reversion and How Fast Does It Happen? ● Why Did Funding Spike Right After a New Listing? ● What Is Funding Rate Arbitrage, and Does It Actually Work? ● Funding Rate vs Open Interest: How to Read Them Together ● What Does It Mean When Funding Is High but Price Is Flat? ● How Is the Funding Rate Actually Calculated? ● Liquidation Distance vs Expected Funding Capture: The Asymmetry ● What Is Cross-Venue Mark Price Divergence? ● Mark Price vs Index Price: Which One Determines Funding? ● Why Is Funding Negative After a Pump? ● What Happens to My Position When an Exchange Delists a Perp?

§i New on Variational

Recently Added to Omni.Variational

Variational is listing tokenized markets the other venues do not have yet. As its rollout deepens it will be the only venue on some of them.

Share X Reddit Email

Asset	Added	Variational	Lighter	tradeXYZ
DELL Equities · Dell	Jul 27, 2026	+0.0041% $26.4K	+0.0032% $92.7K	+0.0006% $1.9M
IBM Equities · IBM	Jul 27, 2026	0.0000% $87.3K	+0.0032% $269.9K	+0.0006% $5.5M
BABA Equities · Alibaba	Jul 21, 2026	+0.0007% $374.4K	+0.0032% $70.2K	+0.0006% $5.7M

Open the RWA page →

§ii Recent reading

Dispatches

All articles →

Mechanics

How to Annualize a Funding Rate, and Why APR Projections Mislead

The math is one multiplication: the per-period rate times the number of periods in a year. The how-to is here, the conversion table is here, and so is the reason the resulting number is almost never what you will earn.

4 min · Jun 10, 2026

Mechanics

Cash and Carry vs Funding Arbitrage: What's the Difference?

One pairs spot against a perp, the other pairs two perps across venues. They harvest the same flow with different machinery, and the machinery is the entire difference in risk.

4 min · Jun 10, 2026

Mechanics

What Is a Delta-Neutral Funding Strategy?

Offset the price exposure, keep the funding flow. The three standard constructions, what each one actually neutralizes, and the gap between delta-neutral as a goal and delta-neutral as a fact.

4 min · Jun 10, 2026

Mechanics

Why "Delta-Neutral" Positions Still Get Liquidated

The position is neutral. The legs are not: two venues, two marks, two margin engines, and no shared collateral. The failure sequence is always the same, and it fires precisely during the moves the hedge was built to ignore.

4 min · Jun 10, 2026