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updated —BTC Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~11d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+6.44%
3d Period Avg−0.10%
swing±5.64%
LONG Pionex · nowBTC_USDT_PERP
+4.52%
3d avg:+6.63%
SHORT Hyperliquid · now
+10.96%
3d avg:+6.53%
Entry Spread Now
+0.013%
In your favorL ask 67,246.9 · S bid 67,256+$1.35 at entry
24h range −0.24%…+0.35% · median −0.00%
Long pays every8hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$19.20
−0.19%
$Avg Daily PnL
−$0.01
−0.0001%
★Best Day
+$0.64
Nov 13
◎Open Interest
Pionex$122.09M
Hyperliquid$2.56B⚡Funding APR
−0.05%
annualized · funding only
⚠Execution Cost
−$19.16
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Pionex$5.45BHyperliquid$3.85BLoading 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 (−$19.16 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.