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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.00%
3d Period Avg+14.48%
swing±16.80%
LONG Hyperliquid · now
+10.96%
3d avg:+9.10%
SHORT Backpack · nowHYPE_USDC_PERP
+10.96%
3d avg:+23.58%
Entry Spread Now
+0.105%
In your favorL ask 78.1600 · S bid 78.2420+$10.49 at entry
24h range −0.01%…+0.29% · median +0.09%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$7.08
−0.07%
$Avg Daily PnL
+$4.14
+0.0414%
★Best Day
+$9.43
Oct 15
◎Open Interest
Hyperliquid$1.55B
Backpack$11.76M⚡Funding APR
+15.12%
annualized · funding only
⚠Execution Cost
−$19.51
entry + exit fees
⏱Payback
4.7d
to break even
◧24h Volume
Hyperliquid$168.26MBackpack$1.05MLoading 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 (−$19.51 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.