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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 ~0.0d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+1701.39%
30d Period Avg+0.28%
swing±126.77%
LONG Coinbase International · nowMEGA-PERP
−1605.05%
30d avg:+18.41%
SHORT Hyperliquid · now
+96.34%
30d avg:+18.69%
Entry Spread Now
+5.555%
In your favorL 0.04200 · S 0.04433+$555.48 if it converges
24h range −1.19%…+6.32% · median +1.65%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.040%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$67.64
−0.68%
$Avg Daily PnL
−$1.69
−0.0169%
★Best Day
+$26.10
Sep 14
◎Open Interest
Coinbase International$1.5K
Hyperliquid$3.65M⚡Funding APR
−6.16%
annualized · funding only
⚠Execution Cost
−$17.00
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Coinbase International$1.2KHyperliquid$747.0KLoading 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 (−$17.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.