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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 ~4.9d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+35.84%
3d Period Avg+37.47%
swing±22.09%
LONG Hyperliquid · now
+10.96%
3d avg:+10.63%
SHORT Phemex · now
+46.80%
3d avg:+48.10%
Entry Spread Now
+0.143%
Eaten by executionL 1.2592 · S 1.2610+$14.29 if it converges
24h range −0.09%…+0.29% · median +0.16%
Long pays every1hShort pays every8h
LONGmaker0.015%/taker0.045%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
−$15.55
−0.16%
$Avg Daily PnL
+$10.74
+0.1074%
★Best Day
+$16.63
Sep 26
◎Open Interest
Hyperliquid$3.06M
Phemex$2.82M⚡Funding APR
+39.19%
annualized · funding only
⚠Execution Cost
−$47.76
entry + exit fees
⏱Payback
4.5d
to break even
◧24h Volume
Hyperliquid$2.53MPhemex$1.81MLoading 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 (−$47.76 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.