Funding rate divergence between exchanges on the same perp i've been obsessing over this for months Basically any time i pull up the same perp contract on two different exchanges the funding rates are different in ways that don't obviously explain themselves, and it's been bugging me enough that i started tracking it systematically. >last week's example: ETHUSDT funding on bitmex was averaging +0.012% per 8h for three days while on bybit over the same window it was +0.034%. same underlying, similar OI profiles, nearly identical mark prices. that's a pretty wide persistent gap, enough that a delta-neutral carry trade between the two would have printed real money if you could execute it without too much friction.…