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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 ~75d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
3d Period Avg+0.15%
swing±3.77%
LONG Lighter · now
+10.52%
3d avg:+9.85%
SHORT Hyperliquid · now
+10.96%
3d avg:+10.00%
Entry Spread Now
+0.355%
In your favorL 0.8457 · S 0.8487+$35.47 if it converges
24h range −0.65%…+1.44% · median +0.07%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$8.87
−0.09%
$Avg Daily PnL
+$0.04
+0.0004%
★Best Day
+$0.27
Oct 13
◎Open Interest
Lighter$632.0K
Hyperliquid$6.49M⚡Funding APR
+0.15%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
7.1mo
to break even
◧24h Volume
Lighter$40.5KHyperliquid$3.70MLoading 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.