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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 ~3.6d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+12.70%
3d Period Avg+24.63%
swing±12.67%
LONG Variational · now
−1.75%
3d avg:−7.15%
SHORT Hyperliquid · now
+10.96%
3d avg:+17.48%
Entry Spread Now
−0.021%
Eaten by executionL 70.5458 · S 70.5310−$2.10 if it converges
24h range −0.26%…+0.44% · median +0.11%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$6.66
+0.07%
$Avg Daily PnL
+$6.43
+0.0643%
★Best Day
+$8.68
Sep 26
◎Open Interest
Variational$4.99M
Hyperliquid$27.61M⚡Funding APR
+23.46%
annualized · funding only
⚠Execution Cost
−$12.62
entry + exit fees
⏱Payback
2.0d
to break even
◧24h Volume
Variational$1.46MHyperliquid$18.12MLoading 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 (−$12.62 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.