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updated —ADA Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~3.8d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+12.26%
7d Period Avg+9.14%
swing±11.52%
LONG Hyperliquid · now
−22.92%
7d avg:−3.07%
SHORT Variational · now
−10.67%
7d avg:+6.07%
Entry Spread Now
−0.049%
Eaten by executionL 0.1639 · S 0.1638−$4.88 if it converges
24h range −0.43%…+0.24% · median −0.06%
Long pays every1hShort pays every8h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$4.16
+0.04%
$Avg Daily PnL
+$2.42
+0.0242%
★Best Day
+$6.35
Nov 8
◎Open Interest
Hyperliquid$21.88M
Variational$2.68M⚡Funding APR
+8.84%
annualized · funding only
⚠Execution Cost
−$12.79
entry + exit fees
⏱Payback
5.3d
to break even
◧24h Volume
Hyperliquid$5.20MVariational$409.0KLoading 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 (−$12.79 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.