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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 ~154d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
3d Period Avg+0.70%
swing±5.34%
LONG Lighter Robinhood · nowNEAR-USDG
+10.52%
3d avg:+9.00%
SHORT Hyperliquid · now
+10.96%
3d avg:+9.70%
Entry Spread Now
+0.088%
In your favorL ask 4.4379 · S bid 4.4418+$8.79 at entry
24h range −0.10%…+0.28% · median +0.05%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$18.01
−0.18%
$Avg Daily PnL
+$0.19
+0.0019%
★Best Day
+$0.65
Oct 29
◎Open Interest
Lighter Robinhood$1.14M
Hyperliquid$255.30M⚡Funding APR
+0.70%
annualized · funding only
⚠Execution Cost
−$18.59
entry + exit fees
⏱Payback
3.2mo
to break even
◧24h Volume
Lighter Robinhood$3.30MHyperliquid$143.26MLoading 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 (−$18.59 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.