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updated βFunding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg Β· +$20000.00 turnover Β· funding never covers this cost
Funding ArbitrageLooking at price convergence? β /price-pair
Current Net APR Β· Snapshot
β0.44%
3d Period Avgβ1.27%
swingΒ±6.69%
LONG Hyperliquid Β· now
+10.96%
3d avg:+10.41%
SHORT Lighter Robinhood Β· nowHYPE-USDG
+10.52%
3d avg:+9.14%
Entry Spread Now
+0.053%
In your favorL ask 94.5330 Β· S bid 94.5830+$5.29 at entry
24h range β0.13%β¦+0.27% Β· median +0.08%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding Historyβ¦
βTotal PnL
β$13.13
β0.13%
$Avg Daily PnL
β$0.34
β0.0034%
β
Best Day
β$0.02
Oct 26
βOpen Interest
Hyperliquid$2.12B
Lighter Robinhood$4.30Mβ‘Funding APR
β1.24%
annualized Β· funding only
β Execution Cost
β$12.11
entry + exit fees
β±Payback
never
to break even
β§24h Volume
Hyperliquid$1.80BLighter Robinhood$34.96MLoading Cumulative PnLβ¦
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 (β$12.11 for size $10,000). Slippage scales nonlinearly with position size β try a larger size to see thin upper levels run out.