Pairs and Delta Neutral

Long one coin against another, or the same coin long on one venue and short on another to collect the funding gap.

shumi pairs covers two trades. A pair trade is long one coin and short a related one, so you earn on the ratio between them. A delta neutral trade is the same coin long on one venue and short on another, so price cancels out and you keep the funding gap.

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Get pair suggestions

Terminal

shumi pairs suggestions
shumi pairs suggestions --symbol ETH --limit 5

Bare shumi pairs prints help only.

API

curl "https://api.shumi.ai/api/cli/pairs?action=suggestions" \
  -H "Authorization: Bearer shumi_sk_your_key_here"

Suggestions refresh daily. On pay per call this route costs 0.05 USDC.

AI agent

Connect the MCP server and call get_pair_suggestions. Its mode parameter picks suggestions, delta-neutral, history or signal.

You get 10 suggestions by default (--limit changes it) from totalPairsAnalyzed pairs, plus gateStats (pairs per gate outcome) and concentrationWarnings (a coin repeated across suggestions).

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Read one suggestion

Read description for the trade, for example "Long TAO / Short ETH". Read signalState.daysActive and isNew for how long it has been on, and ratioTrend.bandPosition for how stretched the ratio already is (near 1 means most of the move has happened). Then the fields:

Field	Meaning
long, short	Each leg: symbol, name, currentTrend (UP, HODL or DOWN) and trendStreak in days
ratioTrend.summary	Who is winning, e.g. “TAO outperforming ETH”
ratioTrend.canonicalRatio	The price ratio the trend is measured on. canonicalBasis says which way round
ratioTrend.bandPosition	Where the ratio sits in its band: 0 at the lower band, 1 at the upper
signalState	isNew, daysActive, entryRatio, currentRatio, unrealizedPnl (a fraction since entry) and bandDrift
status, reason	ACTIVE with “All 6 gates passed” for every listed pair
sharedCategories, commonExchanges, commonExchangeCount	What the two coins have in common and where both trade
backtest	tier, sharpe, trades from a fit on past data
riskMetrics	maxDrawdown, profitFactor, avgHoldDays and backtestDate from the same fit

Do not rank pairs by sharpe: it is a fit to past data, often on fewer than 10 closed trades. Rank by the trends instead. maxDrawdown counts closed trades only, so real drawdown can be larger.

priceRatioLongOverShort is the long coin’s price over the short coin’s, for charting the pair.

Ask it in chat: Which pair trades are active right now, and how stretched is each ratio?

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Check one pair or the history

shumi pairs signal --token-a eth --token-b sol
shumi pairs history

pairs signal returns status, reason and a signal with long and short. ETH and SOL came back long SOL, short ETH: the data sets the direction, whichever order you type the tokens.

pairs history returns daily snapshots. Each has pairCount and a pairs[] list, and each pair has:

Field	Meaning
long, short	Each side’s symbol, priceChange24h and trend
metrics.matchDays	Consecutive days the two coins’ trends have matched
metrics.spreadPct	The price spread between the two, in percent
metrics.compositeScore	0 to 100: 30% from matchDays, 70% from spreadPct

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Get delta neutral suggestions

shumi pairs delta-neutral
shumi pairs delta-neutral --symbol RUNE --exchange binance --limit 5

Add --dex-only to keep only decentralised venues. API: GET /api/cli/pairs?action=delta-neutral. Each item:

Field	Meaning
strategy.long, strategy.short	Per venue: exchange, funding_interval, funding_rate_apr, funding_rate_1h, next_funding_time, volume_24h
expected_net_apr	Short-leg APR minus long-leg APR, if both rates held all year
spread_1h	The same gap per hour, in percent
projected_30day_return	expected_net_apr scaled to 30 days
liquidity.oi_rank	Open-interest rank of the coin
description	The trade in one sentence

For example: “Go long RUNE on Binance (8h funding) and short RUNE on Kraken (1h funding) for a net APR of 4361.60%.” Before the APR, read volume_24h on both legs (Kraken RUNE: $474k) and next_funding_time. An extreme rate on a thin book can be gone at the next payment.

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Two-venue risks

Each leg has its own margin account. A sharp move puts one leg deep in profit and the other deep in loss, and the losing venue liquidates it without knowing you are hedged elsewhere.

• Funding on either venue can change sign at any interval, so the gap can close or invert.
• You pay four fills: in and out on each venue. On a small spread_1h that can exceed the carry.
• Until both legs fill you hold a plain directional position.