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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 ~12d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+7.05%
7d Period Avg+2.79%
swing±5.71%
LONG Hyperliquid · now
−3.26%
7d avg:+4.62%
SHORT Pionex · nowLINK_USDT_PERP
+3.80%
7d avg:+7.41%
Entry Spread Now
−0.006%
Against youL ask 9.6016 · S bid 9.6010−$0.62 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
−$16.53
−0.17%
$Avg Daily PnL
+$1.05
+0.0105%
★Best Day
+$3.54
Nov 10
◎Open Interest
Hyperliquid$40.13M
Pionex$1.11M⚡Funding APR
+3.82%
annualized · funding only
⚠Execution Cost
−$23.86
entry + exit fees
⏱Payback
22.8d
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 (−$23.86 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.