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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 ~2.1d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+34.39%
3d Period Avg+13.71%
swing±59.26%
LONG Hyperliquid · now
−23.43%
3d avg:−31.83%
SHORT Bybit · now
+10.96%
3d avg:−18.12%
Entry Spread Now
+0.467%
In your favorL 0.1456 · S 0.1463+$46.70 if it converges
24h range −0.47%…+0.55% · median +0.17%
Long pays every1hShort pays every4h
LONGmaker0.015%/taker0.045%SHORTmaker0.020%/taker0.055%
Loading Funding History…
↗Total PnL
−$10.27
−0.10%
$Avg Daily PnL
+$3.24
+0.0324%
★Best Day
+$4.29
Sep 25
◎Open Interest
Hyperliquid$1.80M
Bybit$4.29M⚡Funding APR
+11.84%
annualized · funding only
⚠Execution Cost
−$20.00
entry + exit fees
⏱Payback
6.2d
to break even
◧24h Volume
Hyperliquid$440.0KBybit$1.35MLoading 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 (−$20.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.