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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
−0.50%
3d Period Avg+0.65%
swing±11.61%
LONG Hyperliquid · now
−6.68%
3d avg:+6.73%
SHORT dYdX · now
−7.19%
3d avg:+7.38%
Entry Spread Now
−0.011%
Against youL ask 62,333 · S bid 62,326−$1.12 at entry
24h range −0.24%…+0.40% · median −0.04%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0.010%/taker0.050%
Loading Funding History…
↗Total PnL
−$57.62
−0.58%
$Avg Daily PnL
+$0.20
+0.0020%
★Best Day
+$1.07
Nov 14
◎Open Interest
Hyperliquid$2.32B
dYdX$13.69M⚡Funding APR
+0.73%
annualized · funding only
⚠Execution Cost
−$58.22
entry + exit fees
⏱Payback
9.7mo
to break even
◧24h Volume
Hyperliquid$6.93BdYdX$5.90MLoading 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 (−$58.22 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.