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updated —HYPE Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~2.1d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+56.44%
1d Period Avg+21.09%
swing±15.82%
LONG ApeX · now
+1.94%
1d avg:−4.76%
SHORT Backpack · nowHYPE_USDC_PERP
+58.38%
1d avg:+16.33%
Entry Spread Now
+0.097%
In your favorL ask 87.9610 · S bid 88.0460+$9.66 at entry
24h range −0.38%…+0.20% · median +0.00%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$26.25
−0.26%
$Avg Daily PnL
+$5.53
+0.0553%
★Best Day
+$3.16
Oct 30
◎Open Interest
ApeX$1.61M
Backpack$5.59M⚡Funding APR
+20.20%
annualized · funding only
⚠Execution Cost
−$31.78
entry + exit fees
⏱Payback
5.7d
to break even
◧24h Volume
ApeX$651.1KBackpack$7.00MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$31.78 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.