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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 ~13d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.41%
7d Period Avg+2.88%
swing±8.42%
LONG Hyperliquid · now
+7.11%
7d avg:+4.06%
SHORT Lighter · now
+10.52%
7d avg:+6.94%
Entry Spread Now
+0.000%
NeutralL ask 727.8800 · S bid 727.8832
24h range −0.09%…+0.06% · median −0.00%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$6.65
−0.07%
$Avg Daily PnL
+$0.76
+0.0076%
★Best Day
+$2.31
Oct 13
◎Open Interest
Hyperliquid$46.39M
Lighter$3.90M⚡Funding APR
+2.77%
annualized · funding only
⚠Execution Cost
−$11.96
entry + exit fees
⏱Payback
15.8d
to break even
◧24h Volume
Hyperliquid$7.82MLighter$2.16MLoading 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 (−$11.96 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.