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updated —ICP Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−4.61%
7d Period Avg+3.93%
swing±11.65%
LONG Variational · now
−2.30%
7d avg:+2.77%
SHORT Hyperliquid · now
−6.90%
7d avg:+6.70%
Entry Spread Now
−0.085%
Against youL 2.4141 · S 2.4120−$8.51 if it converges
24h range −0.87%…+1.24% · median +0.12%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$0.97
−0.01%
$Avg Daily PnL
+$1.15
+0.0115%
★Best Day
+$5.75
Nov 10
◎Open Interest
Variational$632.2K
Hyperliquid$2.48M⚡Funding APR
+4.19%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
7.8d
to break even
◧24h Volume
Variational$126.2KHyperliquid$2.51MLoading 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.