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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 ~12d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.56%
3d Period Avg+0.70%
swing±4.25%
LONG Hyperliquid · now
+7.40%
3d avg:+7.93%
SHORT Variational · now
+10.96%
3d avg:+8.63%
Entry Spread Now
+0.024%
In your favorL ask 2,382.1 · S bid 2,382.66+$2.35 at entry
24h range −0.23%…+0.01% · median −0.13%
Long pays every1hShort pays every8h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$8.84
−0.09%
$Avg Daily PnL
+$0.82
+0.0082%
★Best Day
+$1.14
Oct 17
◎Open Interest
Hyperliquid$2.50B
Variational$127.98M⚡Funding APR
+3.00%
annualized · funding only
⚠Execution Cost
−$11.31
entry + exit fees
⏱Payback
13.8d
to break even
◧24h Volume
Hyperliquid$443.38MVariational$229.05MLoading 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 (−$11.31 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.