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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 ~1.0d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+90.25%
3d Period Avg+13.32%
swing±132.99%
LONG Phemex · now
−35.24%
3d avg:−3.90%
SHORT Bluefin · nowHYPE-PERP
+55.01%
3d avg:+9.42%
Entry Spread Now
+0.111%
Eaten by executionL 68.7470 · S 68.8230+$11.06 if it converges
24h range −1.24%…+0.91% · median +0.04%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.005%/taker0.035%
Loading Funding History…
↗Total PnL
−$9.41
−0.09%
$Avg Daily PnL
+$4.74
+0.0474%
★Best Day
+$11.15
Nov 14
◎Open Interest
Phemex$9.16M
Bluefin$87.9K⚡Funding APR
+17.28%
annualized · funding only
⚠Execution Cost
−$23.62
entry + exit fees
⏱Payback
5.0d
to break even
◧24h Volume
Phemex$2.08MBluefin$75.3KLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (−$23.62 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.