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updated —MORPHO Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~1.5d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+47.46%
3d Period Avg+9.07%
swing±12.47%
LONG Bybit · now
−36.50%
3d avg:+1.89%
SHORT Hyperliquid · now
+10.96%
3d avg:+10.96%
Entry Spread Now
+0.094%
Eaten by executionL 1.9208 · S 1.9226+$9.37 if it converges
24h range −1.11%…+0.74% · median +0.02%
Long pays every4hShort pays every1h
LONGmaker0.020%/taker0.055%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$12.55
−0.13%
$Avg Daily PnL
+$2.48
+0.0248%
★Best Day
+$3.00
Nov 12
◎Open Interest
Bybit$5.43M
Hyperliquid$6.51M⚡Funding APR
+9.06%
annualized · funding only
⚠Execution Cost
−$20.00
entry + exit fees
⏱Payback
8.1d
to break even
◧24h Volume
Bybit$1.32MHyperliquid$1.16MLoading 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.