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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%
7d Period Avg+6.80%
swing±12.73%
LONG Lighter · now
+10.52%
7d avg:+3.68%
SHORT Hyperliquid · now
+10.96%
7d avg:+10.48%
Entry Spread Now
−0.084%
Against youL 0.8366 · S 0.8359−$8.37 if it converges
24h range −4.82%…+1.44% · median +0.07%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$4.03
+0.04%
$Avg Daily PnL
+$1.86
+0.0186%
★Best Day
+$8.12
Oct 12
◎Open Interest
Lighter$625.0K
Hyperliquid$6.40M⚡Funding APR
+6.79%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
4.8d
to break even
◧24h Volume
Lighter$72.6KHyperliquid$4.46MLoading 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.