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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 ~5.9d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+27.06%
3d Period Avg+31.05%
swing±5.83%
LONG Hyperliquid · now
+10.96%
3d avg:+10.96%
SHORT Phemex · now
+38.02%
3d avg:+42.01%
Entry Spread Now
+0.142%
In your favorL ask 14.0830 · S bid 14.1030+$14.20 at entry
24h range −0.18%…+0.17% · median +0.06%
Long pays every1hShort pays every8h
LONGmaker0.015%/taker0.045%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
−$19.07
−0.19%
$Avg Daily PnL
+$8.20
+0.0820%
★Best Day
+$9.07
Sep 26
◎Open Interest
Hyperliquid$50.31M
Phemex$21.20M⚡Funding APR
+29.92%
annualized · funding only
⚠Execution Cost
−$43.66
entry + exit fees
⏱Payback
5.3d
to break even
◧24h Volume
Hyperliquid$19.52MPhemex$8.89MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$43.66 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.