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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
+5.88%
3d Period Avg+4.34%
swing±4.77%
LONG Hyperliquid · now
+5.07%
3d avg:+6.62%
SHORT Bullet · now
+10.96%
3d avg:+10.96%
Entry Spread Now
+0.030%
In your favorL ask 67,373 · S bid 67,393+$2.97 at entry
24h range −0.23%…+0.25% · median +0.03%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0.010%/taker0.040%
Loading Funding History…
↗Total PnL
−$14.82
−0.15%
$Avg Daily PnL
+$1.21
+0.0121%
★Best Day
+$1.18
Nov 14
◎Open Interest
Hyperliquid$2.57B
Bullet$1.01M⚡Funding APR
+4.42%
annualized · funding only
⚠Execution Cost
−$18.45
entry + exit fees
⏱Payback
15.2d
to break even
◧24h Volume
Hyperliquid$3.89BBullet$3.86MLoading 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 (−$18.45 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.