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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 ~10d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+4.50%
7d Period Avg+6.19%
swing±10.33%
LONG Lighter · now
+1.75%
7d avg:+1.35%
SHORT Hyperliquid · now
+6.26%
7d avg:+7.54%
Entry Spread Now
+0.034%
Eaten by executionL 12.4537 · S 12.4580+$3.41 if it converges
24h range −0.13%…+0.07% · median +0.01%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$0.67
−0.01%
$Avg Daily PnL
+$1.70
+0.0170%
★Best Day
+$3.24
Oct 12
◎Open Interest
Lighter$1.49M
Hyperliquid$60.76M⚡Funding APR
+6.19%
annualized · funding only
⚠Execution Cost
−$12.55
entry + exit fees
⏱Payback
7.4d
to break even
◧24h Volume
Lighter$796.6KHyperliquid$11.41MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (−$12.55 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.