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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 ~37d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+2.49%
3d Period Avg+1.25%
swing±4.87%
LONG Hyperliquid · now
+1.06%
3d avg:+5.04%
SHORT Pionex · nowLINK_USDT_PERP
+3.55%
3d avg:+6.29%
Entry Spread Now
−0.011%
Against youL ask 9.6111 · S bid 9.6100−$1.14 at entry
24h range −0.66%…+0.29% · median +0.00%
Long pays every1hShort pays every8h
LONGmaker0.015%/taker0.045%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$22.95
−0.23%
$Avg Daily PnL
+$0.86
+0.0086%
★Best Day
+$1.38
Nov 14
◎Open Interest
Hyperliquid$40.20M
Pionex$1.11M⚡Funding APR
+3.12%
annualized · funding only
⚠Execution Cost
−$25.52
entry + exit fees
⏱Payback
29.8d
to break even
◧24h Volume
Hyperliquid$6.32MPionex$1.24MLoading 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 (−$25.52 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.