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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 ~1.6d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+47.04%
7d Period Avg+9.12%
swing±12.69%
LONG Bybit · now
−36.09%
7d avg:−3.86%
SHORT Hyperliquid · now
+10.96%
7d avg:+5.26%
Entry Spread Now
+0.005%
NeutralL 1.9220 · S 1.9221
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
−$2.41
−0.02%
$Avg Daily PnL
+$2.51
+0.0251%
★Best Day
+$4.90
Nov 8
◎Open Interest
Bybit$5.43M
Hyperliquid$6.51M⚡Funding APR
+9.17%
annualized · funding only
⚠Execution Cost
−$20.00
entry + exit fees
⏱Payback
8.0d
to break even
◧24h Volume
Bybit$1.34MHyperliquid$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.