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updated —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
−7.03%
3d Period Avg−5.69%
swing±5.69%
LONG Hyperliquid · now
+3.03%
3d avg:+7.76%
SHORT Bullet · now
−4.00%
3d avg:+2.07%
Entry Spread Now
+0.001%
NeutralL ask 83,036 · S bid 83,037
24h range −0.05%…+0.03% · median −0.00%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0.010%/taker0.040%
Loading Funding History…
↗Total PnL
−$23.21
−0.23%
$Avg Daily PnL
−$1.51
−0.0151%
★Best Day
−$0.02
Sep 29
◎Open Interest
Hyperliquid$1.41B
Bullet$164.5K⚡Funding APR
−5.52%
annualized · funding only
⚠Execution Cost
−$18.68
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Hyperliquid$2.54BBullet$2.61MLoading 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 (−$18.68 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.