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updated —ETHFI Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~0.7d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+46.90%
7d Period Avg+9.86%
swing±13.76%
LONG Lighter · now
−35.94%
7d avg:+1.10%
SHORT Hyperliquid · now
+10.96%
7d avg:+10.96%
Entry Spread Now
−0.044%
Eaten by executionL 0.5516 · S 0.5514−$4.35 if it converges
24h range −0.74%…+1.22% · median +0.05%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$9.90
+0.10%
$Avg Daily PnL
+$2.70
+0.0270%
★Best Day
+$6.10
Nov 14
◎Open Interest
Lighter$499.6K
Hyperliquid$9.28M⚡Funding APR
+9.86%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
3.3d
to break even
◧24h Volume
Lighter$316.4KHyperliquid$2.94MLoading 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.