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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 ~5.2d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+19.27%
7d Period Avg+6.60%
swing±5.95%
LONG Hyperliquid · now
−8.31%
7d avg:+4.62%
SHORT Phemex · now
+10.96%
7d avg:+11.22%
Entry Spread Now
+0.063%
In your favorL ask 9.6339 · S bid 9.6400+$6.33 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
−$12.70
−0.13%
$Avg Daily PnL
+$2.09
+0.0209%
★Best Day
+$3.86
Nov 12
◎Open Interest
Hyperliquid$40.25M
Phemex$15.69M⚡Funding APR
+7.63%
annualized · funding only
⚠Execution Cost
−$27.33
entry + exit fees
⏱Payback
13.1d
to break even
◧24h Volume
Hyperliquid$6.40MPhemex$10.71MLoading 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 (−$27.33 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.