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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
+90.34%
30d Period Avg+21.75%
swing±66.18%
LONG Phemex · now
−36.30%
30d avg:+3.59%
SHORT Bluefin · nowHYPE-PERP
+54.04%
30d avg:+25.34%
Entry Spread Now
+0.061%
Eaten by executionL 69.1000 · S 69.1420+$6.08 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
+$152.62
+1.53%
$Avg Daily PnL
+$5.90
+0.0590%
★Best Day
+$16.66
Nov 11
◎Open Interest
Phemex$9.21M
Bluefin$88.3K⚡Funding APR
+21.52%
annualized · funding only
⚠Execution Cost
−$24.27
entry + exit fees
⏱Payback
4.1d
to break even
◧24h Volume
Phemex$2.11MBluefin$74.7KLoading 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 (−$24.27 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.