← Back to Screener
updated —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
+0.00%
7d Period Avg−34.43%
swing±55.64%
LONG Phemex · now
+10.96%
7d avg:+10.96%
SHORT Hyperliquid · now
+10.96%
7d avg:−23.47%
Entry Spread Now
−0.034%
Eaten by executionL 7.7490 · S 7.7463−$3.45 if it converges
24h range −0.25%…+0.20% · median −0.08%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.015%/taker0.045%
Sparse settlements: long 43%, short 100% of expected. KPIs may be noisy.
Loading Funding History…
↗Total PnL
−$12.02
−0.12%
$Avg Daily PnL
+$1.28
+0.0128%
★Best Day
+$13.37
Sep 21
◎Open Interest
Phemex$1.44M
Hyperliquid$6.65M⚡Funding APR
+4.68%
annualized · funding only
⚠Execution Cost
−$21.00
entry + exit fees
⏱Payback
16.4d
to break even
◧24h Volume
Phemex$2.45MHyperliquid$6.43MLoading 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 (−$21.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.