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updated —LINK Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~5.7d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+17.31%
3d Period Avg+6.52%
swing±4.96%
LONG Hyperliquid · now
−6.35%
3d avg:+5.04%
SHORT Phemex · now
+10.96%
3d avg:+11.56%
Entry Spread Now
+0.067%
In your favorL ask 9.6106 · S bid 9.6170+$6.66 at entry
24h range −0.17%…+0.26% · median +0.09%
Long pays every1hShort pays every8h
LONGmaker0.015%/taker0.045%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
−$20.46
−0.20%
$Avg Daily PnL
+$2.25
+0.0225%
★Best Day
+$3.86
Nov 12
◎Open Interest
Hyperliquid$40.15M
Phemex$15.66M⚡Funding APR
+8.20%
annualized · funding only
⚠Execution Cost
−$27.20
entry + exit fees
⏱Payback
12.1d
to break even
◧24h Volume
Hyperliquid$6.38MPhemex$10.70MLoading 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 (−$27.20 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.