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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~3.6d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+11.83%
7d Period Avg+4.55%
swing±8.63%
LONG Lighter · now
−0.88%
7d avg:+4.98%
SHORT Hyperliquid · now
+10.96%
7d avg:+9.53%
Entry Spread Now
−0.103%
Against youL ask 78.3459 · S bid 78.2650−$10.33 at entry
24h range −0.28%…+0.13% · median −0.12%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$2.94
−0.03%
$Avg Daily PnL
+$1.25
+0.0125%
★Best Day
+$2.85
Oct 12
◎Open Interest
Lighter$14.47M
Hyperliquid$1.56B⚡Funding APR
+4.55%
annualized · funding only
⚠Execution Cost
−$11.67
entry + exit fees
⏱Payback
9.4d
to break even
◧24h Volume
Lighter$19.29MHyperliquid$134.79MLoading 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 (−$11.67 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.