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updated —JUP Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~4.3d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+39.06%
3d Period Avg+39.24%
swing±29.67%
LONG Hyperliquid · now
−28.10%
3d avg:−28.28%
SHORT Phemex · now
+10.96%
3d avg:+10.96%
Entry Spread Now
+0.046%
Eaten by executionL 0.2582 · S 0.2583+$4.65 if it converges
24h range −0.74%…+0.98% · median +0.06%
Long pays every1hShort pays every4h
LONGmaker0.015%/taker0.045%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
−$15.39
−0.15%
$Avg Daily PnL
+$10.15
+0.1015%
★Best Day
+$11.09
Nov 13
◎Open Interest
Hyperliquid$6.67M
Phemex$2.68M⚡Funding APR
+37.03%
annualized · funding only
⚠Execution Cost
−$45.83
entry + exit fees
⏱Payback
4.5d
to break even
◧24h Volume
Hyperliquid$3.87MPhemex$1.83MLoading 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 (−$45.83 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.