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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.00%
7d Period Avg+10.40%
swing±18.87%
LONG Pionex · nowENA_USDT_PERP
+10.96%
7d avg:+10.96%
SHORT Hyperliquid · now
+10.96%
7d avg:+21.36%
Entry Spread Now
−0.011%
Against youL ask 0.2702 · S bid 0.2702−$1.11 at entry
24h range −0.18%…+0.51% · median +0.07%
Long pays every4hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$5.41
−0.05%
$Avg Daily PnL
+$2.85
+0.0285%
★Best Day
+$8.88
Sep 21
◎Open Interest
Pionex$3.42M
Hyperliquid$84.08M⚡Funding APR
+10.39%
annualized · funding only
⚠Execution Cost
−$25.35
entry + exit fees
⏱Payback
8.9d
to break even
◧24h Volume
Pionex$10.48MHyperliquid$74.95MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$25.35 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.