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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 ~4.0d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+8.17%
3d Period Avg+17.82%
swing±14.72%
LONG Variational · now
+2.78%
3d avg:−0.85%
SHORT Hyperliquid · now
+10.96%
3d avg:+16.97%
Entry Spread Now
−0.385%
Against youL 0.3507 · S 0.3493−$38.49 if it converges
24h range −0.45%…+0.67% · median +0.14%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$6.09
+0.06%
$Avg Daily PnL
+$5.03
+0.0503%
★Best Day
+$6.71
Sep 25
◎Open Interest
Variational$1.22M
Hyperliquid$10.16M⚡Funding APR
+18.36%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
1.8d
to break even
◧24h Volume
Variational$165.1KHyperliquid$4.69MLoading 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 (−$9.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.