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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.00%
3d Period Avg+11.64%
swing±15.17%
LONG Phemex · now
+10.96%
3d avg:+7.82%
SHORT Hyperliquid · now
+10.96%
3d avg:+19.46%
Entry Spread Now
−0.002%
NeutralL ask 5.3310 · S bid 5.3309
24h range −0.13%…+0.92% · median +0.08%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$37.83
−0.38%
$Avg Daily PnL
+$2.88
+0.0288%
★Best Day
+$4.71
Sep 27
◎Open Interest
Phemex$4.05M
Hyperliquid$205.82M⚡Funding APR
+10.50%
annualized · funding only
⚠Execution Cost
−$46.46
entry + exit fees
⏱Payback
16.1d
to break even
◧24h Volume
Phemex$9.33MHyperliquid$299.28MLoading 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 (−$46.46 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.