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updated 7:15:44 AMFunding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
ⓘSlippage estimate may be inaccurate (thin orderbook or partial fill)
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−255.13%
1d Period Avg−43.91%
swing±189.28%
LONG Backpack · nowHYPE_USDC_PERP
−65.71%
1d avg:−12.53%
SHORT Hibachi · nowHYPE/USDT-P
−320.84%
1d avg:−56.44%
Entry Spread Now
−0.030%
Against youL ask 83.0300 · S bid 83.0049−$3.02 at entry
24h range −0.89%…+1.09% · median +0.04%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0%/taker0.045%
Loading Funding History…
↗Total PnL
−$584.29
−5.84%
$Avg Daily PnL
−$4.07
−0.0407%
★Best Day
−$1.36
Sep 1
◎Open Interest
Backpack$12.61M
Hibachi$145.9K⚡Funding APR
−14.85%
annualized · funding only
⚠Execution Cost
−$576.15
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Backpack$11.77MHibachi$105.2KLoading 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 (−$576.15 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.