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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 ~185d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
7d Period Avg+7.15%
swing±12.75%
LONG Lighter · now
+10.52%
7d avg:−3.40%
SHORT Hyperliquid · now
+10.96%
7d avg:+3.75%
Entry Spread Now
−0.241%
Against youL ask 10.0203 · S bid 9.9961−$24.15 at entry
24h range −0.08%…+0.17% · median +0.01%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$8.59
−0.09%
$Avg Daily PnL
+$1.96
+0.0196%
★Best Day
+$4.91
Oct 10
◎Open Interest
Lighter$1.06M
Hyperliquid$21.88M⚡Funding APR
+7.14%
annualized · funding only
⚠Execution Cost
−$22.29
entry + exit fees
⏱Payback
11.4d
to break even
◧24h Volume
Lighter$765.2KHyperliquid$10.60MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$22.29 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.