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updated βFunding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg Β· +$20000.00 turnover Β· funding never covers this cost
β Slippage not modeled β actual cost may differ
Funding ArbitrageLooking at price convergence? β /price-pair
Current Net APR Β· Snapshot
β16.53%
7d Period Avgβ15.26%
swingΒ±245.35%
LONG Hyperliquid Β· now
+39.32%
7d avg:+17.79%
SHORT Lighter Β· now
+22.79%
7d avg:+2.53%
Entry Spread Now
β0.167%
Against youL 0.1225 Β· S 0.1223β$16.65 if it converges
24h range β2.08%β¦+3.01% Β· median β0.12%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding Historyβ¦
βTotal PnL
β$38.03
β0.38%
$Avg Daily PnL
β$4.15
β0.0415%
β
Best Day
+$8.12
Oct 15
βOpen Interest
Hyperliquid$27.30M
Lighter$565.6Kβ‘Funding APR
β15.14%
annualized Β· funding only
β Execution Cost
β$9.00
entry + exit fees
β±Payback
never
to break even
β§24h Volume
Hyperliquid$14.27MLighter$1.08MLoading Cumulative PnLβ¦
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 (β$9.00 for size $10,000). Slippage scales nonlinearly with position size β try a larger size to see thin upper levels run out.