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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 ~2.1d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+47.29%
3d Period Avg+11.05%
swing±17.34%
LONG Phemex · now
−36.33%
3d avg:−2.59%
SHORT Pionex · nowHYPE_USDT_PERP
+10.96%
3d avg:+8.46%
Entry Spread Now
+0.009%
In your favorL ask 69.0630 · S bid 69.0690+$0.87 at entry
24h range −0.50%…+0.30% · median +0.00%
Long pays every8hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$16.68
−0.17%
$Avg Daily PnL
+$3.44
+0.0344%
★Best Day
+$7.44
Nov 12
◎Open Interest
Phemex$9.20M
Pionex$4.30M⚡Funding APR
+12.56%
annualized · funding only
⚠Execution Cost
−$27.00
entry + exit fees
⏱Payback
7.8d
to break even
◧24h Volume
Phemex$2.11MPionex$10.43MLoading 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 (−$27.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.