Should Crypto-Prices Converge If One Exchange Has Positive Funding Rate While Another Has Negative?

Too Long; Didn't Read

Deribit/Bitmex/Bybit ETH/BTC funding rate arbitrager. Given theory behind funding rates, if one exchange has negative rate while another has positive it should mean that prices converge. If Exchange A is Positive and Exchange C is Negative, it implies A is 'too long' vs spot, meaning price should go down. A short on A would net funding revenues; C would gain value as the price comes closer to spot. A long position on C would net. funding arbitrage has a secondary layer of earnings from convergence of perpetuals.