# carrydesk

> Cross-sectional funding-carry rankings for Hyperliquid perpetual futures,
> published continuously and sold per call in USDC via the x402 protocol.

## What it is

Perpetual futures charge a funding rate hourly between longs and shorts.
carrydesk ranks the liquid Hyperliquid perp universe by trailing 14-day mean
funding. The most negative names pay you to hold them long; the most positive
pay you to short them. Going long the bottom k and short the top k,
dollar-neutral, collects the spread between the legs.

This is a structural risk premium — compensation for absorbing crowded
leverage — not a price prediction. It can and does go negative.

## Free endpoints (no key, no account, no payment)

- `GET https://carry.pelazas.com/v1/free/carry` — top 5 each leg + headline spreads, delayed 24h (JSON)
- `GET https://carry.pelazas.com/v1/method` — exact methodology and caveats (JSON)
- `GET https://carry.pelazas.com/health` — service health and data freshness (JSON)
- `GET https://carry.pelazas.com/archive` — every snapshot ever published (HTML)
- `GET https://carry.pelazas.com/openapi.json` — full OpenAPI 3 specification
- `GET https://carry.pelazas.com/docs` — interactive API documentation

## Paid endpoints (x402, USDC on Base mainnet)

- `GET https://carry.pelazas.com/v1/carry/rankings` — $0.05 — full live ranking, all liquid perps,
  with rank, leg assignment and dollar-neutral weights. Accepts `k` (1-20).
- `GET https://carry.pelazas.com/v1/carry/history/{coin}` — $0.02 — archived rank and funding history
- `GET https://carry.pelazas.com/v1/universe` — $0.01 — liquid perps by volume, OI, mark price, funding

Payment is HTTP 402 → pay USDC on Base → retry. No account or API key exists.
The buyer needs no ETH: settlement uses EIP-3009, so the facilitator sponsors gas.

## For agents

An MCP server exposes the same data as tools:

```
claude mcp add carrydesk -- uvx --from carrydesk carrydesk-mcp
```

Tools: `carry_snapshot`, `carry_method`, `carry_health` (free);
`carry_rankings`, `carry_history`, `carry_universe` (paid).
Set `CARRYDESK_PRIVATE_KEY` for automatic payment; without it the free tools
work and paid tools return the price instead of failing.

## Reading the numbers honestly

Every response carries three spread figures, not one:

- `carry_spread_annualized` — plain mean, what an equal-weighted book earns
- `carry_spread_annualized_trimmed` — mean after dropping the extremes
- `carry_spread_annualized_median` — median, what a typical coin pays

Two more fields tell you how far apart they are:

- `headline_vs_typical` — abs(mean / median). Around 4.0 on live data, meaning
  the headline routinely overstates a typical coin fourfold. Set your own
  threshold on this rather than trusting the boolean.
- `outlier_dominated` — true when median < 0.5 * mean. Fires often, because
  this universe genuinely is outlier-driven most of the time.

Readings of 50% headline against 13% median are routine. **Quote the median, or
quote all three.** One or two illiquid coins funding at 200%/yr carry the mean,
and you cannot trade size in them.

All figures are gross of fees, slippage and borrow. Taker fees alone can erase
the edge. Funding data is Hyperliquid's own, with no cross-venue reconciliation.

## Not investment advice

Informational only. No recommendation to trade is made or implied.

## Source

https://github.com/pelazas/carrydesk