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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 ~3.3d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+34.14%
7d Period Avg+25.94%
swing±17.38%
LONG Hyperliquid · now
+10.96%
7d avg:+13.42%
SHORT Phemex · now
+45.10%
7d avg:+39.36%
Entry Spread Now
+0.208%
In your favorL ask 13.9450 · S bid 13.9740+$20.80 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
+$11.97
+0.12%
$Avg Daily PnL
+$6.15
+0.0615%
★Best Day
+$9.07
Sep 26
◎Open Interest
Hyperliquid$49.93M
Phemex$21.06M⚡Funding APR
+22.43%
annualized · funding only
⚠Execution Cost
−$31.05
entry + exit fees
⏱Payback
5.0d
to break even
◧24h Volume
Hyperliquid$18.89MPhemex$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 (−$31.05 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.