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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 ~75d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
7d Period Avg+1.31%
swing±6.02%
LONG Lighter Robinhood · nowETH-USDG
+10.52%
7d avg:+6.27%
SHORT Hyperliquid · now
+10.96%
7d avg:+7.58%
Entry Spread Now
−0.012%
NeutralL 2,352.07 · S 2,351.78
24h range −0.04%…+0.12% · median +0.01%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$6.48
−0.06%
$Avg Daily PnL
+$0.36
+0.0036%
★Best Day
+$1.61
Oct 23
◎Open Interest
Lighter Robinhood$20.06M
Hyperliquid$2.59B⚡Funding APR
+1.32%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
25.0d
to break even
◧24h Volume
Lighter Robinhood$45.03MHyperliquid$1.21BLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (−$9.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.