The Highest Funding Rate on Binance Is Usually a Delisting in Disguise
Funding-rate arbitrage is supposed to be delta-neutral. You hedge price, so price stops being the thing that hurts you. What hurts you instead is the venue changing the rules underneath the position: the perpetual contract gets settled, the spot pair gets removed, margin borrowing gets disabled, deposits stop being credited, withdrawals close.
Every one of those events is announced in advance, in public, on a URL anyone can poll. Almost nobody polls it.
So I open-sourced the boring part — a Binance announcement scraper that filters for delisting notices, extracts the affected tickers, deduplicates against a state file, and pushes to a webhook:
github.com/godzilla-foundation/godzilla-community → strategies/binance_delisting_monitor
One file, one dependency (requests). This post is about why it exists.
The carry trade, and where it actually breaks
The basic funding-rate carry is unglamorous on purpose. Long the spot asset, short the perpetual contract on the same asset, size the legs so...
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