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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
+0.00%
3d Period Avg+0.59%
swing±3.14%
LONG Hyperliquid · now
+10.96%
3d avg:+10.37%
SHORT PopDEX · now
+10.96%
3d avg:+10.96%
Entry Spread Now
−0.004%
NeutralL ask 77,990 · S bid 77,987
24h range −0.02%…+0.03% · median +0.00%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0.010%/taker0.032%
Loading Funding History…
↗Total PnL
−$15.25
−0.15%
$Avg Daily PnL
+$0.16
+0.0016%
★Best Day
+$0.48
Oct 30
◎Open Interest
Hyperliquid$3.16B
PopDEX$54.27M⚡Funding APR
+0.58%
annualized · funding only
⚠Execution Cost
−$15.73
entry + exit fees
⏱Payback
3.3mo
to break even
◧24h Volume
Hyperliquid$602.84MPopDEX$26.51MLoading 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 (−$15.73 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.