Funding capture, explained.
What is a funding rate?
What it is, why it exists, who pays whom.
What is delta-neutral (in crypto)?
Why long spot, short perp cancels price — and what risk remains.
What is a basis trade (spot–futures basis)?
Cash-and-carry vs perpetual funding: same shape, different clock.
What is funding-rate capture (delta-neutral funding yield)?
How a hedge collects funding — and the net numbers.
Is funding-rate farming profitable? The honest answer
Historically barely after costs; in early 2026, no.