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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~1.2d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+27.38%
3d Period Avg+71.05%
swing±49.21%
LONG Variational · now
+10.96%
3d avg:+11.84%
SHORT Hyperliquid · now
+38.34%
3d avg:+82.89%
Entry Spread Now
−0.335%
Against youL 0.8395 · S 0.8366−$33.47 if it converges
24h range −0.26%…+0.89% · median +0.11%
Long pays every4hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$46.92
+0.47%
$Avg Daily PnL
+$18.64
+0.1864%
★Best Day
+$24.10
Sep 26
◎Open Interest
Variational$2.44M
Hyperliquid$17.33M⚡Funding APR
+68.04%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
11.5h
to break even
◧24h Volume
Variational$955.8KHyperliquid$6.09MLoading 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 (−$9.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.