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updated βFunding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg Β· +$20000.00 turnover Β· funding never covers this cost
β Slippage not modeled β actual cost may differ
Funding ArbitrageLooking at price convergence? β /price-pair
Current Net APR Β· Snapshot
β0.44%
3d Period Avgβ0.45%
swingΒ±0.67%
LONG Hyperliquid Β· now
+10.96%
3d avg:+10.88%
SHORT Lighter Β· now
+10.52%
3d avg:+10.43%
Entry Spread Now
β0.013%
NeutralL 81,371.3 Β· S 81,360.4
24h range β0.10%β¦+0.09% Β· median β0.00%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding Historyβ¦
βTotal PnL
β$9.37
β0.09%
$Avg Daily PnL
β$0.12
β0.0012%
β
Best Day
β$0.02
Oct 26
βOpen Interest
Hyperliquid$3.53B
Lighter$171.03Mβ‘Funding APR
β0.45%
annualized Β· funding only
β Execution Cost
β$9.00
entry + exit fees
β±Payback
never
to break even
β§24h Volume
Hyperliquid$2.92BLighter$839.41MLoading Cumulative PnLβ¦
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 (β$9.00 for size $10,000). Slippage scales nonlinearly with position size β try a larger size to see thin upper levels run out.