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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
−21.82%
3d Period Avg−6.87%
swing±13.78%
LONG Hyperliquid · now
+6.89%
3d avg:+6.62%
SHORT RiseX · nowBTC-PERP
−14.94%
3d avg:−0.25%
Entry Spread Now
−0.058%
Against youL ask 67,268 · S bid 67,229−$5.80 at entry
24h range −0.34%…+0.58% · median −0.05%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0.010%/taker0.030%
Loading Funding History…
↗Total PnL
−$21.78
−0.22%
$Avg Daily PnL
−$1.82
−0.0182%
★Best Day
−$0.34
Nov 13
◎Open Interest
Hyperliquid$2.57B
RiseX$8.96M⚡Funding APR
−6.66%
annualized · funding only
⚠Execution Cost
−$16.31
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Hyperliquid$3.85BRiseX$45.28MLoading 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 (−$16.31 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.