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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
−35.76%
7d Period Avg+1.56%
swing±21.28%
LONG Hyperliquid · nowkPEPE
+10.96%
7d avg:+3.51%
SHORT Phemex · nowu1000PEPEUSDT
−24.80%
7d avg:+5.07%
Entry Spread Now
−0.072%
Eaten by executionL 0.004288 · S 0.004285−$7.23 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
−$12.95
−0.13%
$Avg Daily PnL
+$1.15
+0.0115%
★Best Day
+$5.90
Nov 12
◎Open Interest
Hyperliquid$43.64M
Phemex$2.13M⚡Funding APR
+4.19%
annualized · funding only
⚠Execution Cost
−$21.00
entry + exit fees
⏱Payback
18.3d
to break even
◧24h Volume
Hyperliquid$21.83MPhemex$5.75MLoading 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.