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updated —BTC Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−8.77%
3d Period Avg−3.84%
swing±2.99%
LONG Hyperliquid · now
+10.96%
3d avg:+10.96%
SHORT CoinW · now
+2.19%
3d avg:+7.12%
Entry Spread Now
+0.095%
Eaten by executionL 78,539 · S 78,613.8+$9.52 if it converges
24h range −0.48%…+0.20% · median −0.01%
Long pays every1hShort pays every8h
LONGmaker0.015%/taker0.045%SHORTmaker0.020%/taker0.060%
Loading Funding History…
↗Total PnL
−$23.91
−0.24%
$Avg Daily PnL
−$0.93
−0.0093%
★Best Day
−$0.30
Oct 30
◎Open Interest
Hyperliquid$3.36B
CoinW—⚡Funding APR
−3.38%
annualized · funding only
⚠Execution Cost
−$21.13
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Hyperliquid$6.14BCoinW—Loading 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 (−$21.13 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.