Funding APR is the easiest number to notice and the easiest number to misuse. If a TradeHus perp pays high funding to shorts, the trade may look like free yield. In practice, the hedge side has costs. A stock hedge can require financing, a short hedge can require borrow, and both sides have spread and slippage. That is why the monitor separates funding rate APR from estimated net yield.

Estimated net yield is not a promise. It is a rough ranking metric that helps decide what deserves manual work. A setup with 80 percent funding can be worse than a setup with 25 percent funding if the first one has stale data, bad depth, or expensive borrow. The goal is to avoid chasing the loudest APR and instead check the trade that still looks strong after realistic costs.

What to subtract

• Borrow and financing rate on the hedge.
• Perp spread, broker spread, and expected slippage.
• Exit friction if funding normalizes quickly.