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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 ~1.0d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+32.17%
7d Period Avg+43.37%
swing±29.55%
LONG Variational · now
−21.22%
7d avg:−11.80%
SHORT Hyperliquid · now
+10.96%
7d avg:+31.57%
Entry Spread Now
+0.040%
Eaten by executionL 3.1081 · S 3.1094+$4.04 if it converges
24h range −0.41%…+0.61% · median +0.12%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$74.11
+0.74%
$Avg Daily PnL
+$11.87
+0.1187%
★Best Day
+$18.32
Sep 21
◎Open Interest
Variational$1.27M
Hyperliquid$2.39M⚡Funding APR
+43.34%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
18.2h
to break even
◧24h Volume
Variational$37.3KHyperliquid$2.75MLoading 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 (−$9.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.