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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
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+16.67%
7d Period Avg+10.66%
swing±10.62%
LONG Hyperliquid · now
+6.29%
7d avg:+4.09%
SHORT Backpack · nowBNB_USDC_PERP
+22.96%
7d avg:+14.75%
Entry Spread Now
−0.017%
Against youL ask 716.1900 · S bid 716.0700−$1.68 at entry
24h range −0.05%…+0.19% · median +0.01%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$2.57
−0.03%
$Avg Daily PnL
+$2.88
+0.0288%
★Best Day
+$6.30
Oct 16
◎Open Interest
Hyperliquid$45.87M
Backpack$2.13M⚡Funding APR
+10.53%
annualized · funding only
⚠Execution Cost
−$22.76
entry + exit fees
⏱Payback
7.9d
to break even
◧24h Volume
Hyperliquid$3.38MBackpack$129.3KLoading 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 (−$22.76 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.