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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 ~0.8d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+38.66%
3d Period Avg+24.12%
swing±12.77%
LONG Variational · now
+4.61%
3d avg:−7.75%
SHORT Hyperliquid · now
+43.28%
3d avg:+16.37%
Entry Spread Now
−0.755%
Against youL 0.09627 · S 0.09554−$75.52 if it converges
24h range −0.28%…+0.81% · median +0.18%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$9.39
+0.09%
$Avg Daily PnL
+$6.13
+0.0613%
★Best Day
+$8.36
Sep 26
◎Open Interest
Variational$761.5K
Hyperliquid$4.18M⚡Funding APR
+22.38%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
1.5d
to break even
◧24h Volume
Variational$214.2KHyperliquid$1.40MLoading 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.