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updated —CHIP Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−20.25%
7d Period Avg+5.63%
swing±14.29%
LONG Bybit · now
+10.96%
7d avg:+3.78%
SHORT Hyperliquid · now
−9.29%
7d avg:+9.41%
Entry Spread Now
−0.367%
Against youL 0.02999 · S 0.02988−$36.68 if it converges
24h range −1.22%…+0.51% · median −0.09%
Long pays every4hShort pays every1h
LONGmaker0.020%/taker0.055%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$9.27
−0.09%
$Avg Daily PnL
+$1.53
+0.0153%
★Best Day
+$6.14
Nov 9
◎Open Interest
Bybit$4.06M
Hyperliquid$5.73M⚡Funding APR
+5.59%
annualized · funding only
⚠Execution Cost
−$20.00
entry + exit fees
⏱Payback
13.1d
to break even
◧24h Volume
Bybit$1.42MHyperliquid$787.2KLoading 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 (−$20.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.