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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.00%
7d Period Avg+11.17%
swing±13.57%
LONG Hyperliquid · now
+10.96%
7d avg:+9.65%
SHORT Backpack · nowHYPE_USDC_PERP
+10.96%
7d avg:+20.82%
Entry Spread Now
+0.046%
In your favorL ask 78.2760 · S bid 78.3120+$4.60 at entry
24h range −0.01%…+0.29% · median +0.09%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
+$2.11
+0.02%
$Avg Daily PnL
+$3.07
+0.0307%
★Best Day
+$9.43
Oct 15
◎Open Interest
Hyperliquid$1.56B
Backpack$11.79M⚡Funding APR
+11.22%
annualized · funding only
⚠Execution Cost
−$19.41
entry + exit fees
⏱Payback
6.3d
to break even
◧24h Volume
Hyperliquid$132.37MBackpack$834.8KLoading 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 (−$19.41 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.