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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 ~1.7d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+37.97%
3d Period Avg−9.31%
swing±35.29%
LONG Hyperliquid · now
+10.96%
3d avg:+6.47%
SHORT Perpl · now
+48.93%
3d avg:−2.84%
Entry Spread Now
+0.035%
Eaten by executionL 64,100 · S 64,122.2+$3.46 if it converges
24h range −0.39%…+0.29% · median −0.02%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0.050%/taker0.088%
Loading Funding History…
↗Total PnL
−$25.41
−0.25%
$Avg Daily PnL
−$2.48
−0.0248%
★Best Day
−$0.06
Nov 15
◎Open Interest
Hyperliquid$2.37B
Perpl$183.7K⚡Funding APR
−9.06%
annualized · funding only
⚠Execution Cost
−$17.96
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Hyperliquid$5.94BPerpl$22.75MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (−$17.96 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.