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updated 7:21:51 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
−4.85%
3d Period Avg−4.84%
swing±3.67%
LONG Hyperliquid · now
+10.96%
3d avg:+10.96%
SHORT Variational · now
+6.10%
3d avg:+6.12%
Entry Spread Now
−0.151%
Against youL ask 2,425.5 · S bid 2,421.83−$15.13 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
−$14.67
−0.15%
$Avg Daily PnL
−$1.02
−0.0102%
★Best Day
−$0.44
Sep 2
◎Open Interest
Hyperliquid$2.23B
Variational$124.67M⚡Funding APR
−3.74%
annualized · funding only
⚠Execution Cost
−$10.57
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Hyperliquid$1.10BVariational$184.95MLoading 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 (−$10.57 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.