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updated —ALT 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+22.55%
swing±20.62%
LONG Hyperliquid · now
+10.96%
7d avg:−11.59%
SHORT Phemex · now
+10.96%
7d avg:+10.96%
Entry Spread Now
+0.339%
In your favorL 0.005013 · S 0.005030+$33.91 if it converges
24h range −0.37%…+0.86% · median +0.08%
Long pays every1hShort pays every4h
LONGmaker0.015%/taker0.045%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
+$20.55
+0.21%
$Avg Daily PnL
+$5.94
+0.0594%
★Best Day
+$8.15
Nov 9
◎Open Interest
Hyperliquid$698.5K
Phemex$1.36M⚡Funding APR
+21.66%
annualized · funding only
⚠Execution Cost
−$21.00
entry + exit fees
⏱Payback
3.5d
to break even
◧24h Volume
Hyperliquid$126.1KPhemex$285.2KLoading 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.