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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 ~2.3d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+40.22%
3d Period Avg+10.45%
swing±12.02%
LONG Hyperliquid · now
−6.21%
3d avg:+8.03%
SHORT Backpack · nowNEAR_USDC_PERP
+34.01%
3d avg:+18.48%
Entry Spread Now
+0.039%
In your favorL ask 4.8880 · S bid 4.8899+$3.89 at entry
24h range −0.35%…+0.68% · median −0.03%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$16.27
−0.16%
$Avg Daily PnL
+$3.13
+0.0313%
★Best Day
+$5.35
Oct 17
◎Open Interest
Hyperliquid$303.02M
Backpack$1.66M⚡Funding APR
+11.43%
annualized · funding only
⚠Execution Cost
−$25.67
entry + exit fees
⏱Payback
8.2d
to break even
◧24h Volume
Hyperliquid$120.88MBackpack$1.99MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$25.67 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.