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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 ~5.0d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+6.57%
3d Period Avg+3.59%
swing±16.42%
LONG Lighter · now
+4.38%
3d avg:−5.43%
SHORT Hyperliquid · now
+10.96%
3d avg:−1.84%
Entry Spread Now
+0.073%
In your favorL 0.1929 · S 0.1931+$7.26 if it converges
24h range −0.05%…+0.11% · median +0.05%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$6.05
−0.06%
$Avg Daily PnL
+$0.98
+0.0098%
★Best Day
+$2.79
Oct 14
◎Open Interest
Lighter$723.0K
Hyperliquid$18.44M⚡Funding APR
+3.59%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
9.2d
to break even
◧24h Volume
Lighter$946.4KHyperliquid$17.29MLoading 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.