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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 ~21d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+4.35%
7d Period Avg+19.47%
swing±27.04%
LONG Pionex · nowNEAR_USDT_PERP
+10.96%
7d avg:+9.82%
SHORT Hyperliquid · now
+15.31%
7d avg:+29.29%
Entry Spread Now
+0.035%
In your favorL ask 5.4040 · S bid 5.4059+$3.52 at entry
24h range −0.65%…+0.55% · median +0.12%
Long pays every8hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$12.23
+0.12%
$Avg Daily PnL
+$5.33
+0.0533%
★Best Day
+$17.91
Sep 21
◎Open Interest
Pionex$3.26M
Hyperliquid$211.93M⚡Funding APR
+19.46%
annualized · funding only
⚠Execution Cost
−$25.08
entry + exit fees
⏱Payback
4.7d
to break even
◧24h Volume
Pionex$29.11MHyperliquid$306.92MLoading 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 (−$25.08 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.