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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 ~2.6d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+12.79%
3d Period Avg+19.79%
swing±20.11%
LONG Variational · now
−1.83%
3d avg:+3.96%
SHORT Hyperliquid · now
+10.96%
3d avg:+23.75%
Entry Spread Now
+0.167%
In your favorL 0.6845 · S 0.6856+$16.65 if it converges
24h range −0.23%…+0.68% · median +0.28%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$8.13
+0.08%
$Avg Daily PnL
+$5.71
+0.0571%
★Best Day
+$7.51
Oct 1
◎Open Interest
Variational$537.0K
Hyperliquid$3.79M⚡Funding APR
+20.84%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
1.6d
to break even
◧24h Volume
Variational$47.6KHyperliquid$605.6KLoading 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 (−$9.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.