Delta Neutral

Perp Funding Neutral

Long spot, short perp, collect funding. Flat whenever funding turns negative for 24 hours.

LiveR2

NAV

103.20

30D

+0.95%

90D

+2.90%

YTD

+5.10%

ITD

+5.10%

MDD

-1.80%

Sharpe

1.90

AUM

$1.40M

Min

$300.00

Lockup

Trading involves risk. Past performance is not indicative of future results. Vault NAV can rise or fall.

Quartz Lab

@quartz-labIndependent managerX @quartzlab LinkedIn

Two-person quant studio. Funding harvest across majors, capacity-aware.

6P

Philosophy

Carry is a queue, not a conviction.

Process

Hourly funding check, 1.0x notional cap, exit 12h before scheduled macro events.

People

Quartz Lab

Portfolio

BTC · ETH

Parent

Independent

Performance

YTD 5.10% · MDD -1.80%

Equity path

Monthly returns

+1.5%

+0.4%

+2.1%

-1.2%

+1.0%

+0.9%

+2.2%

-0.1%

+1.9%

+1.6%

-0.4%

-1.3%

+1.3%

-0.8%

+2.2%

-0.1%

+0.3%

Fees

Subscription: 0%
Redemption: 0.1%
Management: 0%
Performance: 12%
Copy fee: 12%

Suitable: Small-ticket carry next to the funding harvest sleeve.

Not suitable: Anyone expecting double-digit carry every month.

Linked vault

Perp Funding Neutral

TVL

$1.40M

30D

+0.95%

MDD

-1.80%

Open vault

Trading involves risk. Past performance is not indicative of future results. Vault NAV can rise or fall.

Community & manager updates

The manager's market reads, rebalance records and monthly letters, alongside depositors' discussion. All simulated.

Discussion

8 posts · 6 replies · 7 participants · Last activity 4 Sept 2026

Every post here is simulated; none of it is advice.

QL
Quartz LabManagerMarket readPinned
5 Sept 2026via Web
Hedge cycle ran clean this week on Perp Funding Neutral: residual delta inside band on every check. The net carry after hedge cost is what the 30D shows, nothing more, nothing hidden.
- Carry TraderDepositor · 2026-045 Sept 2026
  The R2 grade is honest. Do not size an R2 like a cash sleeve and then complain in the comments.
- HK MacroAnalyst5 Sept 2026
  Checked this against the fills. Consistent with the letter.
SE
Sierra EightDepositor · 2026-06Question
4 Sept 2026via Web
How would you size Perp Funding Neutral inside a book that already holds $Orbit Liquidity Provider (OLP)$ as ballast?
- Quartz LabManager4 Sept 2026
  Both are ballast, so split by liquidity need: OLP redeems in 3 days, this sleeve in 5. Keep the part you might need sooner in OLP.
Quartz LabManagerRebalance
3 Sept 2026via Web
Scheduled rebalance, largest moves listed.
Market Side Fill Weight
BTC short 65,090.18 32.0%→39.0%
ETH long 3,459.90 41.0%→48.0%
Rebalanced 3 Sept 2026
QL
Quartz LabManagerMonthly letter
31 Aug 2026via Web
August letter for Perp Funding Neutral: +0.9% for the month, intramonth drawdown inside budget, no rule changes. Fees and lockup unchanged: 12% performance, 5-day lockup. Full attribution is on the factsheet.
- Carry TraderDepositor · 2026-0431 Aug 2026
  Attribution before excuses. Thank you.
WA
Willow AMDepositor · 2026-04Question
29 Aug 2026via iPhone
What does the worst week look like for Perp Funding Neutral? The published -1.8% max drawdown is a number, not a story.
- Quartz LabManager29 Aug 2026
  The -1.8% was a two-week episode with the stop doing its job on day nine. The story is on the factsheet under Process; the fills are on-chain.
M
MeiDepositor · 2026-08
27 Aug 2026via Web
Redeemed 20% last month for a tax bill and it paid T+1 after the 5-day lockup, exactly as written. Re-depositing next week.
- Willow AMDepositor · 2026-0427 Aug 2026
  This is the comment every new depositor should read before the factsheet.

Trading involves risk. Past performance is not indicative of future results. Vault NAV can rise or fall.

Quartz Lab

Manager · Independent

Two-person quant studio. Funding harvest across majors, capacity-aware.

Official posts: 4
Replies: 2
Last post: 5 Sept 2026

Hedge cycle ran clean this week on Perp Funding Neutral: residual delta inside band on every check. The net carry after hedge cost is what the 30D shows, nothing more, nothing hidden.

All vaults by this manager

Latest rebalances

Fills and weight changes the manager published

Market	Side	Fill	Weight
BTC	short	65,090.18	32.0%→39.0%
ETH	long	3,459.90	41.0%→48.0%

Rebalanced 3 Sept 2026

Insights

Funding regime map: eleven weeks positive, and what breaks it