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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 ~0.7d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+85.47%
7d Period Avg+12.48%
swing±40.74%
LONG Coinbase International · nowCRV-PERP
−74.51%
7d avg:+11.17%
SHORT Hyperliquid · now
+10.96%
7d avg:+23.65%
Entry Spread Now
+0.408%
In your favorL 0.3504 · S 0.3518+$40.81 if it converges
24h range −1.36%…+0.86% · median +0.33%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.040%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$6.92
+0.07%
$Avg Daily PnL
+$2.99
+0.0299%
★Best Day
+$12.85
Sep 21
◎Open Interest
Coinbase International$619.2K
Hyperliquid$10.90M⚡Funding APR
+10.92%
annualized · funding only
⚠Execution Cost
−$17.00
entry + exit fees
⏱Payback
5.7d
to break even
◧24h Volume
Coinbase International$2.47MHyperliquid$10.75MLoading 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.