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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 ~4.1d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+9.43%
3d Period Avg−0.13%
swing±4.31%
LONG Hyperliquid · now
−0.96%
3d avg:+8.83%
SHORT Variational · now
+8.47%
3d avg:+8.70%
Entry Spread Now
−0.147%
Against youL ask 2,393.8 · S bid 2,390.28−$14.70 at entry
24h range −0.42%…+0.26% · median −0.13%
Long pays every1hShort pays every8h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$8.27
−0.08%
$Avg Daily PnL
+$0.75
+0.0075%
★Best Day
+$1.00
Oct 15
◎Open Interest
Hyperliquid$2.47B
Variational$133.70M⚡Funding APR
+2.73%
annualized · funding only
⚠Execution Cost
−$10.51
entry + exit fees
⏱Payback
14.1d
to break even
◧24h Volume
Hyperliquid$582.16MVariational$222.33MLoading 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 (−$10.51 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.