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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~1.4d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+48.14%
3d Period Avg+5.45%
swing±18.15%
LONG Backpack · nowCRV_USDC_PERP
−37.18%
3d avg:+7.83%
SHORT Hyperliquid · now
+10.96%
3d avg:+13.28%
Entry Spread Now
+0.458%
In your favorL 0.3779 · S 0.3796+$45.78 if it converges
24h range −0.45%…+0.67% · median +0.11%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$14.53
−0.15%
$Avg Daily PnL
+$1.49
+0.0149%
★Best Day
+$2.48
Oct 1
◎Open Interest
Backpack$108.0K
Hyperliquid$12.17M⚡Funding APR
+5.44%
annualized · funding only
⚠Execution Cost
−$19.00
entry + exit fees
⏱Payback
12.8d
to break even
◧24h Volume
Backpack$127.7KHyperliquid$10.34MLoading 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 (−$19.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.