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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 ~32d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+2.41%
7d Period Avg+30.07%
swing±30.43%
LONG Phemex · now
+8.55%
7d avg:−19.79%
SHORT Hyperliquid · now
+10.96%
7d avg:+10.28%
Entry Spread Now
+0.141%
In your favorL 4.6190 · S 4.6255+$14.07 if it converges
24h range −0.09%…+0.38% · median +0.10%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$36.41
+0.36%
$Avg Daily PnL
+$8.23
+0.0823%
★Best Day
+$17.46
Sep 25
◎Open Interest
Phemex$1.84M
Hyperliquid$104.63M⚡Funding APR
+30.05%
annualized · funding only
⚠Execution Cost
−$21.22
entry + exit fees
⏱Payback
2.6d
to break even
◧24h Volume
Phemex$2.11MHyperliquid$20.71MLoading 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 (−$21.22 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.