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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 ~0.2d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+296.34%
30d Period Avg+19.96%
swing±31.22%
LONG Bybit · now
+10.96%
30d avg:+8.67%
SHORT Hyperliquid · now
+307.30%
30d avg:+28.63%
Entry Spread Now
−0.089%
Eaten by executionL 0.5161 · S 0.5157−$8.91 if it converges
24h range −1.44%…+2.45% · median +0.24%
Long pays every4hShort pays every1h
LONGmaker0.020%/taker0.055%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$143.49
+1.43%
$Avg Daily PnL
+$5.27
+0.0527%
★Best Day
+$18.47
Sep 6
◎Open Interest
Bybit$27.37M
Hyperliquid$12.21M⚡Funding APR
+19.25%
annualized · funding only
⚠Execution Cost
−$20.00
entry + exit fees
⏱Payback
3.8d
to break even
◧24h Volume
Bybit$21.43MHyperliquid$7.77MLoading 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 (−$20.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.