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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 ~1.2d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+86.01%
3d Period Avg+56.56%
swing±43.44%
LONG Phemex · now
+10.96%
3d avg:+10.96%
SHORT Hyperliquid · now
+96.97%
3d avg:+67.52%
Entry Spread Now
−0.154%
Against youL 1.6190 · S 1.6165−$15.44 if it converges
24h range −0.90%…+0.91% · median +0.09%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$18.37
+0.18%
$Avg Daily PnL
+$15.22
+0.1522%
★Best Day
+$17.41
Sep 26
◎Open Interest
Phemex$1.79M
Hyperliquid$31.03M⚡Funding APR
+55.56%
annualized · funding only
⚠Execution Cost
−$27.30
entry + exit fees
⏱Payback
1.8d
to break even
◧24h Volume
Phemex$2.28MHyperliquid$24.51MLoading 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 (−$27.30 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.