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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 ~4.5d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+33.88%
7d Period Avg+26.32%
swing±28.44%
LONG Hyperliquid · now
−22.93%
7d avg:−15.36%
SHORT Phemex · now
+10.96%
7d avg:+10.96%
Entry Spread Now
+0.175%
Eaten by executionL 0.2574 · S 0.2578+$17.49 if it converges
24h range −0.63%…+0.98% · median +0.06%
Long pays every1hShort pays every4h
LONGmaker0.015%/taker0.045%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
+$8.63
+0.09%
$Avg Daily PnL
+$7.21
+0.0721%
★Best Day
+$15.45
Nov 11
◎Open Interest
Hyperliquid$6.61M
Phemex$2.68M⚡Funding APR
+26.31%
annualized · funding only
⚠Execution Cost
−$41.83
entry + exit fees
⏱Payback
5.8d
to break even
◧24h Volume
Hyperliquid$3.82MPhemex$1.85MLoading 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 (−$41.83 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.