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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 ~0.6d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+102.12%
3d Period Avg+19.16%
swing±46.35%
LONG Coinbase International · nowCRV-PERP
−91.17%
3d avg:−0.06%
SHORT Hyperliquid · now
+10.96%
3d avg:+19.10%
Entry Spread Now
+0.344%
In your favorL 0.3484 · S 0.3496+$34.44 if it converges
24h range −1.36%…+0.86% · median +0.34%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.040%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$1.26
−0.01%
$Avg Daily PnL
+$3.93
+0.0393%
★Best Day
+$14.90
Sep 26
◎Open Interest
Coinbase International$650.5K
Hyperliquid$10.84M⚡Funding APR
+14.36%
annualized · funding only
⚠Execution Cost
−$17.00
entry + exit fees
⏱Payback
4.3d
to break even
◧24h Volume
Coinbase International$2.38MHyperliquid$10.43MLoading 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 (−$17.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.