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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~6.8d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+7.12%
3d Period Avg+3.97%
swing±8.89%
LONG Lighter · now
+0.00%
3d avg:+4.82%
SHORT Hyperliquid · now
+7.12%
3d avg:+8.79%
Entry Spread Now
−0.167%
Against youL ask 78.1056 · S bid 77.9750−$16.72 at entry
24h range −0.28%…+0.13% · median −0.12%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$10.04
−0.10%
$Avg Daily PnL
+$1.07
+0.0107%
★Best Day
+$2.02
Oct 15
◎Open Interest
Lighter$14.80M
Hyperliquid$1.55B⚡Funding APR
+3.92%
annualized · funding only
⚠Execution Cost
−$13.26
entry + exit fees
⏱Payback
12.4d
to break even
◧24h Volume
Lighter$22.96MHyperliquid$168.93MLoading 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 (−$13.26 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.