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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 ~83d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
7d Period Avg+3.89%
swing±8.39%
LONG Lighter · now
+10.52%
7d avg:+0.73%
SHORT Hyperliquid · now
+10.96%
7d avg:+4.62%
Entry Spread Now
−0.115%
Against youL ask 2,437.49 · S bid 2,434.7−$11.45 at entry
24h range −0.47%…+0.04% · median −0.00%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$2.59
−0.03%
$Avg Daily PnL
+$1.07
+0.0107%
★Best Day
+$2.13
Oct 9
◎Open Interest
Lighter$76.28M
Hyperliquid$2.66B⚡Funding APR
+3.90%
annualized · funding only
⚠Execution Cost
−$10.06
entry + exit fees
⏱Payback
9.4d
to break even
◧24h Volume
Lighter$477.24MHyperliquid$1.91BLoading 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 (−$10.06 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.