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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
βSlippage estimate may be inaccurate (thin orderbook or partial fill)
Funding ArbitrageLooking at price convergence? β /price-pair
Current Net APR Β· Snapshot
β4.82%
30d Period Avgβ8.17%
swingΒ±11.80%
LONG Backpack Β· nowHYPE_USDC_PERP
+10.96%
30d avg:+11.53%
SHORT Paradex Β· nowHYPE-USD-PERP
+6.14%
30d avg:+3.36%
Entry Spread Now
β0.067%
Against youL ask 78.0690 Β· S bid 78.0170β$6.66 at entry
24h range β0.30%β¦+0.18% Β· median β0.07%
Long pays every1hShort pays every8h
LONGmaker0.020%/taker0.050%SHORTmaker0%/taker0.007%
Loading Funding Historyβ¦
βTotal PnL
β$86.37
β0.86%
$Avg Daily PnL
β$2.41
β0.0241%
β
Best Day
+$2.08
Sep 26
βOpen Interest
Backpack$12.05M
Paradex$148.0Kβ‘Funding APR
β8.81%
annualized Β· funding only
β Execution Cost
β$13.94
entry + exit fees
β±Payback
never
to break even
β§24h Volume
Backpack$3.04MParadex$10.5KLoading 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$13.94 for size $10,000). Slippage scales nonlinearly with position size β try a larger size to see thin upper levels run out.