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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
−5.48%
3d Period Avg+0.11%
swing±4.15%
LONG Lighter Robinhood · nowETH-USDG
+10.52%
3d avg:+7.57%
SHORT Hyperliquid · now
+5.04%
3d avg:+7.68%
Entry Spread Now
+0.015%
In your favorL ask 2,327.85 · S bid 2,328.2+$1.50 at entry
24h range −0.04%…+0.04% · median +0.01%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$11.13
−0.11%
$Avg Daily PnL
+$0.03
+0.0003%
★Best Day
+$0.72
Oct 28
◎Open Interest
Lighter Robinhood$19.81M
Hyperliquid$2.54B⚡Funding APR
+0.11%
annualized · funding only
⚠Execution Cost
−$11.22
entry + exit fees
⏱Payback
12.7mo
to break even
◧24h Volume
Lighter Robinhood$41.86MHyperliquid$1.14BLoading 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 (−$11.22 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.