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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 ~0.9d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+37.17%
7d Period Avg+41.70%
swing±48.30%
LONG Variational · now
+10.96%
7d avg:+11.32%
SHORT Hyperliquid · now
+48.13%
7d avg:+53.02%
Entry Spread Now
+0.172%
In your favorL 0.8417 · S 0.8431+$17.23 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
+$70.91
+0.71%
$Avg Daily PnL
+$11.42
+0.1142%
★Best Day
+$24.10
Sep 26
◎Open Interest
Variational$2.44M
Hyperliquid$17.45M⚡Funding APR
+41.67%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
19.0h
to break even
◧24h Volume
Variational$966.6KHyperliquid$6.25MLoading 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.