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updated —1000PEPE Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−31.97%
3d Period Avg−3.72%
swing±25.84%
LONG Hyperliquid · nowkPEPE
+10.96%
3d avg:+2.25%
SHORT Phemex · nowu1000PEPEUSDT
−21.01%
3d avg:−1.47%
Entry Spread Now
−0.075%
Eaten by executionL 0.004274 · S 0.004271−$7.49 if it converges
24h range −0.28%…+0.27% · median +0.00%
Long pays every1hShort pays every8h
LONGmaker0.015%/taker0.045%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
−$23.82
−0.24%
$Avg Daily PnL
−$0.94
−0.0094%
★Best Day
+$5.90
Nov 12
◎Open Interest
Hyperliquid$43.50M
Phemex$2.12M⚡Funding APR
−3.43%
annualized · funding only
⚠Execution Cost
−$21.00
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Hyperliquid$21.76MPhemex$5.74MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (−$21.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.