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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 ~3.2d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+10.22%
7d Period Avg+21.61%
swing±15.62%
LONG Variational · now
+0.74%
7d avg:−7.46%
SHORT Hyperliquid · now
+10.96%
7d avg:+14.15%
Entry Spread Now
+0.150%
In your favorL 0.09477 · S 0.09491+$14.98 if it converges
24h range −0.25%…+0.67% · median +0.18%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$32.41
+0.32%
$Avg Daily PnL
+$5.92
+0.0592%
★Best Day
+$8.36
Sep 26
◎Open Interest
Variational$731.7K
Hyperliquid$4.15M⚡Funding APR
+21.59%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
1.5d
to break even
◧24h Volume
Variational$197.5KHyperliquid$1.33MLoading 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.