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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 ~2.4d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+13.81%
7d Period Avg+24.79%
swing±12.38%
LONG Variational · now
−2.85%
7d avg:−13.67%
SHORT Hyperliquid · now
+10.96%
7d avg:+11.12%
Entry Spread Now
+0.121%
In your favorL 0.8649 · S 0.8660+$12.14 if it converges
24h range −0.41%…+0.66% · median +0.10%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$38.50
+0.39%
$Avg Daily PnL
+$6.79
+0.0679%
★Best Day
+$8.59
Sep 24
◎Open Interest
Variational$562.4K
Hyperliquid$2.91M⚡Funding APR
+24.77%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
1.3d
to break even
◧24h Volume
Variational$208.6KHyperliquid$3.59MLoading 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.