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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
+46.46%
7d Period Avg+6.24%
swing±12.63%
LONG Phemex · now
−35.50%
7d avg:+3.24%
SHORT Pionex · nowHYPE_USDT_PERP
+10.96%
7d avg:+9.48%
Entry Spread Now
+0.091%
In your favorL ask 69.2210 · S bid 69.2840+$9.10 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
−$13.23
−0.13%
$Avg Daily PnL
+$1.92
+0.0192%
★Best Day
+$7.44
Nov 12
◎Open Interest
Phemex$9.23M
Pionex$4.30M⚡Funding APR
+7.01%
annualized · funding only
⚠Execution Cost
−$26.67
entry + exit fees
⏱Payback
13.9d
to break even
◧24h Volume
Phemex$2.11MPionex$10.48MLoading 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 (−$26.67 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.