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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 ~1.3d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+57.41%
30d Period Avg+3.73%
swing±14.75%
LONG Hyperliquid · now
−33.57%
30d avg:+3.15%
SHORT Hotcoin · now
+23.84%
30d avg:+6.88%
Entry Spread Now
−0.064%
Eaten by executionL 1.0993 · S 1.0986−$6.37 if it converges
24h range −0.99%…+0.66% · median −0.03%
Long pays every1hShort pays every8h
LONGmaker0.015%/taker0.045%SHORTmaker0.020%/taker0.060%
Loading Funding History…
↗Total PnL
+$18.59
+0.19%
$Avg Daily PnL
+$1.32
+0.0132%
★Best Day
+$8.84
Aug 26
◎Open Interest
Hyperliquid$5.34M
Hotcoin$2.56M⚡Funding APR
+4.82%
annualized · funding only
⚠Execution Cost
−$21.00
entry + exit fees
⏱Payback
15.9d
to break even
◧24h Volume
Hyperliquid$3.01MHotcoin$8.87MLoading 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 (−$21.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.