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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 ~0.8d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+38.93%
30d Period Avg+10.51%
swing±28.55%
LONG Lighter · now
+10.52%
30d avg:+9.68%
SHORT Hyperliquid · now
+49.45%
30d avg:+20.19%
Entry Spread Now
−0.177%
Against youL 0.03157 · S 0.03151−$17.74 if it converges
24h range −0.41%…+0.42% · median +0.01%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$77.32
+0.77%
$Avg Daily PnL
+$2.88
+0.0288%
★Best Day
+$26.71
Sep 26
◎Open Interest
Lighter$10.1K
Hyperliquid$779.0K⚡Funding APR
+10.50%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
3.1d
to break even
◧24h Volume
Lighter$1.7KHyperliquid$265.8KLoading 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.