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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 ~5.1d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+12.13%
3d Period Avg+1.88%
swing±12.74%
LONG Hyperliquid · now
−2.13%
3d avg:+6.27%
SHORT Meridian · now
+10.01%
3d avg:+8.15%
Entry Spread Now
−0.080%
Against youL ask 2,372.9 · S bid 2,371−$8.01 at entry
24h range −0.25%…+0.07% · median −0.08%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0.030%
Loading Funding History…
↗Total PnL
−$15.56
−0.16%
$Avg Daily PnL
+$0.52
+0.0052%
★Best Day
+$2.38
Oct 17
◎Open Interest
Hyperliquid$2.56B
Meridian$34.0K⚡Funding APR
+1.88%
annualized · funding only
⚠Execution Cost
−$17.11
entry + exit fees
⏱Payback
1.1mo
to break even
◧24h Volume
Hyperliquid$771.31MMeridian$119.3KLoading 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 (−$17.11 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.