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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 ~3.5d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+9.37%
7d Period Avg+25.34%
swing±23.55%
LONG Variational · now
+1.59%
7d avg:−3.21%
SHORT Hyperliquid · now
+10.96%
7d avg:+22.13%
Entry Spread Now
+0.034%
Eaten by executionL 0.3509 · S 0.3510+$3.42 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
+$39.55
+0.40%
$Avg Daily PnL
+$6.94
+0.0694%
★Best Day
+$14.58
Sep 23
◎Open Interest
Variational$1.20M
Hyperliquid$10.22M⚡Funding APR
+25.32%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
1.3d
to break even
◧24h Volume
Variational$162.1KHyperliquid$4.47MLoading 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.