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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 ~1.3d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+26.23%
7d Period Avg+7.20%
swing±23.32%
LONG Lighter · now
−46.46%
7d avg:−9.16%
SHORT Hyperliquid · now
−20.22%
7d avg:−1.96%
Entry Spread Now
+0.061%
In your favorL 0.3108 · S 0.3110+$6.11 if it converges
24h range −3.79%…+0.96% · median +0.02%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$4.81
+0.05%
$Avg Daily PnL
+$1.97
+0.0197%
★Best Day
+$5.07
Oct 12
◎Open Interest
Lighter$515.4K
Hyperliquid$10.16M⚡Funding APR
+7.20%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
4.6d
to break even
◧24h Volume
Lighter$365.2KHyperliquid$10.86MLoading 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.