All posts

Author

Gryps

4 published posts by Gryps.

Category
Author

All research

4 posts

When Funding Rates Lie
Market AnalysisGryps6 min read

When Funding Rates Lie

April 2026's BTC funding/price divergence is institutional hedging, not directional positioning. The flow profile that produces it — large, delta-neutral, scheduled, indifferent to direction — is the cleanest live test in years of why bilateral RFQ execution at size matters.