{"title":"Exploring risk and return profiles of funding rate arbitrage on CEX and DEX","authors":"Warodom Werapun, Tanakorn Karode, Jakapan Suaboot, Tanwa Arpornthip, Esther Sangiamkul","doi":"10.1016/j.bcra.2025.100354","DOIUrl":"10.1016/j.bcra.2025.100354","url":null,"abstract":"<div><div>Perpetual futures, non-expiring swap contracts, dominate cryptocurrency markets with over $100 billion in daily trades. This instrument provides leveraged exposure to cryptocurrencies without rollover or direct holding requirements. A pivotal mechanism in this market is the funding rate, a periodic payment between buyers (longs) and sellers (shorts) in perpetual futures contracts to keep the contract price close to the market value of the asset. This study scrutinizes the risk and return profiles of funding rate arbitrage in cryptocurrency perpetual futures markets, leveraging data from major exchanges such as Binance and Bitmex, alongside decentralized platforms like ApolloX and Drift. Key assets, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), and Solana (SOL) are examined. Empirical analysis of arbitrage strategies, contrasted with the Hold-On-for-Dear-Life (HODL) approach, uncovers diversification benefits as funding rate arbitrage exhibits a weak correlation with HODL strategies for XRP. Moreover, the impact of leverage on arbitrage efficiency is assessed, revealing the nuanced nature of leverage's influence on gains. Evaluation of 60 arbitrage scenarios underscores the potential range of returns, positioning funding rate arbitrage as a stable yet rewarding alternative to HODL strategies. This study presents evidence that the best-performing funding rate arbitrage can generate substantial returns of up to 115.9% over six months while limiting the maximum drawdown to 1.92%, as demonstrated by the Drift XRP strategy with 7x leverage. These results underscore the attractiveness of funding rate arbitrage strategies for investors and call for further scholarly inquiry into the area.</div></div>","PeriodicalId":53141,"journal":{"name":"Blockchain-Research and Applications","volume":"7 4","pages":"Article 100354"},"PeriodicalIF":6.5,"publicationDate":"2026-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148636831","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"计算机科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Hao HE, Haiyu QIN, Xiaowei BAI, Liang XIE, Hang LIU
{"title":"Learnable difference convolution and temporal feature supplementary module for near-infrared eye segmentation","authors":"Hao HE, Haiyu QIN, Xiaowei BAI, Liang XIE, Hang LIU","doi":"10.1016/j.vrih.2026.07.004","DOIUrl":"10.1016/j.vrih.2026.07.004","url":null,"abstract":"<div><div>Near-infrared (NIR) eye image segmentation refers to a pixel-wise semantic segmentation technique for ocular images captured in close-range NIR imaging scenarios. Serving as a prerequisite for augmented reality (AR), virtual reality (VR) eye-tracking systems, and biometric technologies, the segmentation accuracy of this technique directly determines the overall performance of downstream tasks. However, accurately segmenting ocular structures under unconstrained conditions remains challenging, primarily due to feature ambiguity caused by light reflection artifacts, interferences from eyelashes and eyelids, and temporal inconsistency induced by frame-by-frame independent segmentation. To address the above issues, this paper proposes a learnable difference convolution (LDC) and a feature supplementary module (FSM) that introduces temporal priors via feature-level fusion within skip connections, employing foreground guidance and background compensation. The LDC does not rely on fixed-pattern difference convolution kernels; instead, it learns task-optimal difference convolution kernels during the training process, thereby enhancing the model’s boundary feature extraction capability and its robustness against occlusions and reflection interference. Meanwhile, the FSM leverages the segmentation result of the previous frame and the ocular difference map as temporal contextual priors to guide the segmentation process of the current frame through feature-level fusion and foreground/background compensation, which mitigates the problem of temporal inconsistency. Evaluations across three benchmark datasets demonstrate that our method outperforms state-of-the-art approaches in eye image segmentation tasks. The code is publicly available at <span><span>https://github.com/qinhaiyu218/LDC-FSM-Eye-Segmentation</span><svg><path></path></svg></span>.</div></div>","PeriodicalId":33538,"journal":{"name":"Virtual Reality Intelligent Hardware","volume":"8 4","pages":"Pages 481-506"},"PeriodicalIF":6.1,"publicationDate":"2026-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"149028333","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Gennaro Avitabile, Vincenzo Botta, Daniele Friolo, Ivan Visconti
{"title":"Data redaction in smart-contract-enabled permissioned blockchains","authors":"Gennaro Avitabile, Vincenzo Botta, Daniele Friolo, Ivan Visconti","doi":"10.1016/j.bcra.2025.100363","DOIUrl":"10.1016/j.bcra.2025.100363","url":null,"abstract":"<div><div>Balancing immutability and compliance with regulations stands as a significant challenge in the realm of blockchain technology applications. Due to the increase of data-protection requirements (e.g., the GDPR in the EU), it is essential to address the problem of deleting data from a blockchain without compromising the security and transparency of the blockchain itself. Several works proposed techniques to address the data redaction problem. In their seminal work, Ateniese et al. (IEEE EuroS&P 17) were the first to propose a redactable blockchain. Their approach focuses on permissioned blockchains, and they showed how to change the content of a transaction without breaking the chaining among blocks by using special cryptographic hash functions (i.e., chameleon hash functions) and secure multi-party computation. We observe that the redaction technique of Ateniese et al. does not take into account the possibility that the blockchain supports smart contracts and that a redaction of a transaction might leave inconsistencies in the logic of the contracts, making some remaining non-redacted transactions invalid, and, more in general, the state of a smart contract inconsistent with the content of transactions. We find this choice rather limiting since decentralized and publicly verifiable computation guaranteed by smart-contract-enabled blockchains is necessary for modern (i.e., Web3) applications. To overcome the above limitations of the applicability of the redaction techniques of Ateniese et al., we propose a redaction technique with wider applicability that leverages succinct non-interactive arguments of knowledge to realize what we call a <em>proof-of-consistency</em>.</div></div>","PeriodicalId":53141,"journal":{"name":"Blockchain-Research and Applications","volume":"7 4","pages":"Article 100363"},"PeriodicalIF":6.5,"publicationDate":"2026-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148843959","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"计算机科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Yuhong Liu, Shifeng Sun, Joseph Liu, Jiangshan Yu, Xueqin Liang
{"title":"Unleashing the potential: Advancements and innovations in blockchain technology","authors":"Yuhong Liu, Shifeng Sun, Joseph Liu, Jiangshan Yu, Xueqin Liang","doi":"10.1016/j.bcra.2026.100513","DOIUrl":"10.1016/j.bcra.2026.100513","url":null,"abstract":"","PeriodicalId":53141,"journal":{"name":"Blockchain-Research and Applications","volume":"7 4","pages":"Article 100513"},"PeriodicalIF":6.5,"publicationDate":"2026-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148776300","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"计算机科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
自主智能系统(英文)Pub Date : 2026-06-22DOI: 10.1007/s43684-026-00136-1
Daniel Schall
{"title":"Safe integration of Large Language Models into industrial process control: a multi-agent architecture with P&ID-grounded validation","authors":"Daniel Schall","doi":"10.1007/s43684-026-00136-1","DOIUrl":"10.1007/s43684-026-00136-1","url":null,"abstract":"<div><p>Large Language Models (LLMs) offer powerful reasoning capabilities for industrial process control, yet their non-deterministic nature, susceptibility to hallucination, and lack of intrinsic physical understanding make direct deployment in safety-critical environments unacceptable. This paper addresses five research questions on safely integrating LLM-based reasoning into industrial process automation through the Autonomous Action Execution (AAE) framework. For safe architectural integration (RQ1), we present a four-layer multi-agent architecture that confines LLM inference to an observation-only Monitor layer while safety-critical decisions are made by deterministic Verification and Execution agents. For structuring heterogeneous plant data (RQ2), we introduce a text-level aggregation framework with pluggable analyzers that transforms SCADA states, time-series measurements, Piping and Instrumentation Diagrams (P&IDs), and Standard Operating Procedures (SOPs) into contextually rich documents for LLM consumption. For automated validation (RQ3), a P&ID-grounded method uses graph traversal over the P&ID topology to verify physical consistency of LLM-generated proposals, checking tag existence, actuatability, fail-state consistency, and downstream impact. For quantifiable context enrichment (RQ4), a graduated baseline comparison (B0–B3) demonstrates the incremental value of each pipeline component. For cross-domain generalisability (RQ5), evaluation across five industrial scenarios—three derived from the Tennessee Eastman Process (TEP) benchmark (Downs & Vogel, 1993) providing community-standard validation, plus two retained scenarios (PolyReactor, Dryer) that establish performance boundaries from best-case (zero hallucination) to worst-case (70% safety violations)—demonstrates portability of the framework across continuous and batch processes of varying P&ID complexity within the evaluated synthetic scenarios. An error injection study across 43 crafted proposals demonstrates that the validation layer achieves 100% recall (zero false negatives) on the covered failure modes (P&ID-grounded structural checks together with the scenario-specific forbidden-action rubric). A statistical robustness study (<i>N</i> = 50 LLM runs) shows that even when LLMs propose unsafe actions in 10%–70% of runs, the deterministic validation layer catches every invalid proposal in the covered categories (structurally invalid <i>or</i> forbidden-action) under the evaluated scenarios. The core finding is that architecturally constrained advisory integration of LLMs in process industries is fundamentally an architectural challenge, and that established systems engineering principles of separation of concerns, independent protection layers, and deterministic safety logic provide deterministic checks against the covered validation-layer failure modes (structural and rubric-defined) when deploying LLM-based advisory systems in process industries.</p>","PeriodicalId":71187,"journal":{"name":"自主智能系统(英文)","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2026-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s43684-026-00136-1.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148323192","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
自主智能系统(英文)Pub Date : 2026-06-09DOI: 10.1007/s43684-026-00135-2
Stefano Frizzo Stefenon, João Pedro Matos-Carvalho, Viviana Cocco Mariani, Leandro dos Santos Coelho, Kin-Choong Yow
{"title":"Diffusion-augmented YOLO26-Swin cascaded framework with hybrid SHAP-CAM for autonomous power grid inspection","authors":"Stefano Frizzo Stefenon, João Pedro Matos-Carvalho, Viviana Cocco Mariani, Leandro dos Santos Coelho, Kin-Choong Yow","doi":"10.1007/s43684-026-00135-2","DOIUrl":"10.1007/s43684-026-00135-2","url":null,"abstract":"<div><p>Deep learning-based autonomous inspection of power grid insulators is challenged by data imbalance and model opacity. This paper presents an end-to-end solution integrating advanced data synthesis, detection, classification, and explainability. First, a conditional diffusion model generates realistic synthetic fault images to balance the dataset. A two-stage architecture based on You Only Look Once version 26 (YOLO26) extra-large and Shifted windows (Swin)-V2-B, called YOLO26-Swin, fine-tuned with Bayesian optimization, performs robust insulator detection and then fault classification. Finally, a novel SHapley Additive exPlanations with Class Activation Mapping (SHAP-CAM) method provides intuitive visual explanations for model predictions. Extensive experiments validate our framework’s superiority: it achieves an F1-score of 0.98149 and a mean Average Precision (mAP)@[0.5] of 0.98951, exceeding leading detection and classification models. This work highlights the efficacy of diffusion models for data augmentation in critical infrastructure and advances the interpretability of vision-based inspection systems.</p></div>","PeriodicalId":71187,"journal":{"name":"自主智能系统(英文)","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2026-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC13249930/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148229509","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Cyber-attack-induced equilibria of high-voltage direct-current power transmission systems","authors":"Haonan Xu, Qinyu Wei, Kaiyu Li, Xiaoqin Liu, Yulong Ding, Dongliang Zheng, Kairui Feng, Yue Song, Jiazuo Hou","doi":"10.1007/s43684-026-00132-5","DOIUrl":"10.1007/s43684-026-00132-5","url":null,"abstract":"<div><p>The electric power system is the largest man-made autonomous intelligent machine, which is of vital importance but vulnerable to cyber threats. This study investigates cyber-attack-induced equilibria, i.e., steady-state operation points, of two-terminal high-voltage direct-current (HVDC) power transmission systems, which play a critical role in maintaining power balances. By analytically mapping the control curves of two HVDC converters onto a common control plane, we show that originally linear characteristics become quadratic or more complex. Then, we derive propositions characterizing attack-induced switching of HVDC control strategies as well as the consequent shift of HVDC equilibrium points. Time-domain MATLAB/Simulink case studies validate the theoretical results, highlighting abrupt bulk power reversals and bifurcation-like behaviors under small measurement perturbations. The proposed framework provides HVDC system operators with explicit tools to assess and mitigate attack-driven HVDC operating risks.</p></div>","PeriodicalId":71187,"journal":{"name":"自主智能系统(英文)","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2026-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s43684-026-00132-5.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148172212","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"An integrated blockchain, building information modelling and life cycle assessment framework for carbon footprint tracking and low-carbon building design","authors":"Xiaojun Luo","doi":"10.1016/j.bcra.2025.100382","DOIUrl":"10.1016/j.bcra.2025.100382","url":null,"abstract":"<div><div>A lack of data security and interoperability is a significant challenge in low-carbon building design due to the involvement of numerous architects, engineers, and carbon auditors. This study proposes a novel framework that integrates blockchain, building information modelling (BIM), and life cycle assessment (LCA) to enhance data management and decision-making for low-carbon building design. Blockchain, as a distributed ledger, ensures data security by maintaining an immutable record of architectural design changes, energy system configurations, and carbon footprints. BIM visualises all the design information in a three-dimensional model to ensure real-time updates of energy and carbon performance. LCA assesses the trade-off between embodied carbon and operating carbon emissions across a building’s life span, optimising architectural and energy system design decisions. The proposed framework establishes a secure and transparent workflow by integrating blockchain, BIM, and LCA into an iterative design process. Smart contracts facilitate the automatic verification of design parameters, enabling architects and engineers to adjust their designs when carbon footprint targets and energy-saving requirements are unmet. Additionally, the framework incorporates a database of future weather profiles, material properties, and inventory information to support accurate and informed decision-making. This study enhances data security, improves interoperability, and supports the iterative refinement of low-carbon building designs. The framework was validated on an industrial building project, demonstrating its effectiveness in designing low-carbon buildings and its potential to contribute to global net-zero ambitions. By offering a structured approach to integrating blockchain, BIM, and LCA, this study offers valuable insights for practitioners and researchers in the architecture, engineering, and construction industries.</div></div>","PeriodicalId":53141,"journal":{"name":"Blockchain-Research and Applications","volume":"7 3","pages":"Article 100382"},"PeriodicalIF":6.5,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148540053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"计算机科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"3D tooth semi-closed hole-filling algorithm based on the moving least-squares method","authors":"Hongan LI, Kun YANG, Long PENG, Qingfang LIU","doi":"10.1016/j.vrih.2026.04.002","DOIUrl":"10.1016/j.vrih.2026.04.002","url":null,"abstract":"<div><div>Large-area semi-closed holes on the lateral surfaces of tooth models can cause difficulties in subsequent orthodontic tasks, such as collision detection and finite element analysis, and may affect the accuracy and stability of further processing. To address this issue, this paper proposes a three-dimensional tooth semi-closed hole repair method based on the moving least squares technique. First, key points were manually selected to transform semi-closed holes into closed ones, and new vertices were uniformly distributed within the hole region to construct an initial triangular mesh. Subsequently, a mesh homogenization algorithm was applied to improve the quality of the generated triangular patches. Then, a moving least-squares surface-fitting approach was employed. By incorporating the point cloud density and Gaussian curvature, an adaptive vertex influence region was designed to iteratively adjust the vertex positions and better fit the target surface. Finally, the generated mesh was smoothed using the Laplacian-Beltrami operator to obtain a repaired surface consistent with the original geometry. The experimental results demonstrate that the proposed method achieves superior efficiency and repair quality compared to existing approaches.</div></div>","PeriodicalId":33538,"journal":{"name":"Virtual Reality Intelligent Hardware","volume":"8 3","pages":"Pages 365-382"},"PeriodicalIF":6.1,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148531540","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
G. Benrhmach , L. Alrawas , A. Tridane , A.M. Al-Shaery , H. Al Jassmi , N.S. Farooqi , A. Al-Hawsawi
{"title":"Optimal strategies for containing infectious disease spread in mass gatherings with crowd mobility","authors":"G. Benrhmach , L. Alrawas , A. Tridane , A.M. Al-Shaery , H. Al Jassmi , N.S. Farooqi , A. Al-Hawsawi","doi":"10.1016/j.jobb.2026.02.002","DOIUrl":"10.1016/j.jobb.2026.02.002","url":null,"abstract":"<div><div>The risk of infectious diseases is considerably high during Hajj rituals due to overcrowding. The general application of a framework that describes Hajj can be limited as the characteristics of mass gatherings differ from one site to another. Therefore, there is a call for studies that focus on each of the Hajj rituals independently. This study proposes an agent-based model that describes the spread of contagions in the Mena Region, calibrated against reported COVID-19 outbreak characteristics during Hajj. An optimization was performed to test nine scenarios in which diseases’ prevalence, regional diversity, mobility, and capacity were prioritized in different combinations. The results show that prevalence becomes unrealistic in the case of no constraints, whereas eight out of the nine fitted scenarios fall within or near the empirical ranges of both prevalence (3–15%) and <span><math><mrow><msub><mrow><mi>R</mi></mrow><mrow><mn>0</mn></mrow></msub></mrow></math></span> (1.4–3.1), signifying that the framework captures important epidemiological dynamics. The most cost-effective control is generated when all four factors are considered equally so high capacity and mobility are allowed, with infections kept in realistic bounds. When nationality groups vary according to vaccination properties and age distributions, limiting participants from high-risk regions illustrated a significant impact on suppressing the infection. Finally, the study also investigated the relationship between disease incubation time and the time people spend in a foreign area. Once the stay time exceeds the incubation time, the infection level and the peak of the infection undergo a sharp increase.</div></div>","PeriodicalId":52875,"journal":{"name":"Journal of Biosafety and Biosecurity","volume":"8 2","pages":"Pages 127-137"},"PeriodicalIF":0.0,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148185021","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}