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updated 2:25:55 PMFunding 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
−0.44%
3d Period Avg+2.19%
swing±7.18%
LONG Hyperliquid · now
+10.96%
3d avg:+4.38%
SHORT Lighter · now
+10.52%
3d avg:+6.57%
Entry Spread Now
−0.024%
Against youL ask 78,334 · S bid 78,314.9−$2.44 at entry
24h range −0.05%…+0.07% · median −0.01%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$7.95
−0.08%
$Avg Daily PnL
+$0.43
+0.0043%
★Best Day
+$1.59
Sep 12
◎Open Interest
Hyperliquid$2.79B
Lighter$168.07M⚡Funding APR
+1.56%
annualized · funding only
⚠Execution Cost
−$9.66
entry + exit fees
⏱Payback
22.6d
to break even
◧24h Volume
Hyperliquid$2.13BLighter$692.01MLoading 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 (−$9.66 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.