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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 ~3.2d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+37.67%
3d Period Avg+17.53%
swing±22.30%
LONG ApeX · now
+3.80%
3d avg:−1.27%
SHORT Backpack · nowHYPE_USDC_PERP
+41.46%
3d avg:+16.26%
Entry Spread Now
+0.051%
In your favorL ask 86.9760 · S bid 87.0200+$5.06 at entry
24h range −0.30%…+0.20% · median +0.01%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$18.49
−0.18%
$Avg Daily PnL
+$4.80
+0.0480%
★Best Day
+$9.89
Oct 30
◎Open Interest
ApeX$1.59M
Backpack$5.01M⚡Funding APR
+17.52%
annualized · funding only
⚠Execution Cost
−$32.89
entry + exit fees
⏱Payback
6.8d
to break even
◧24h Volume
ApeX$652.1KBackpack$7.17MLoading 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 (−$32.89 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.