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updated —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
+0.00%
7d Period Avg+11.59%
swing±19.46%
LONG Phemex · nowu1000SHIBUSDT
+10.96%
7d avg:+9.88%
SHORT Hyperliquid · nowkSHIB
+10.96%
7d avg:+21.47%
Entry Spread Now
+0.136%
In your favorL 0.005880 · S 0.005888+$13.61 if it converges
24h range −0.34%…+0.37% · median +0.08%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$1.21
+0.01%
$Avg Daily PnL
+$3.17
+0.0317%
★Best Day
+$6.86
Sep 23
◎Open Interest
Phemex$2.13M
Hyperliquid$1.81M⚡Funding APR
+11.58%
annualized · funding only
⚠Execution Cost
−$21.00
entry + exit fees
⏱Payback
6.6d
to break even
◧24h Volume
Phemex$2.52MHyperliquid$370.8KLoading 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.