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updated 8:57:27 AMFunding 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
−7.26%
3d Period Avg−5.17%
swing±3.53%
LONG Hyperliquid · now
+10.96%
3d avg:+10.96%
SHORT Variational · now
+3.70%
3d avg:+5.79%
Entry Spread Now
−0.206%
Against youL ask 2,393.7 · S bid 2,388.76−$20.64 at entry
24h range −0.39%…+0.14% · median −0.08%
Long pays every1hShort pays every8h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$15.21
−0.15%
$Avg Daily PnL
−$1.06
−0.0106%
★Best Day
−$0.28
Sep 2
◎Open Interest
Hyperliquid$2.18B
Variational$121.94M⚡Funding APR
−3.88%
annualized · funding only
⚠Execution Cost
−$10.96
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Hyperliquid$1.08BVariational$175.80MLoading 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 (−$10.96 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.