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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+9.34%
swing±11.43%
LONG Variational · now
+10.96%
3d avg:+1.56%
SHORT Hyperliquid · now
+10.96%
3d avg:+10.90%
Entry Spread Now
+0.062%
Eaten by executionL 0.4972 · S 0.4975+$6.23 if it converges
24h range −0.99%…+0.68% · median +0.14%
Long pays every4hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$9.31
−0.09%
$Avg Daily PnL
+$2.49
+0.0249%
★Best Day
+$3.30
Sep 30
◎Open Interest
Variational$1.51M
Hyperliquid$30.52M⚡Funding APR
+9.08%
annualized · funding only
⚠Execution Cost
−$16.77
entry + exit fees
⏱Payback
6.7d
to break even
◧24h Volume
Variational$1.57MHyperliquid$28.60MLoading 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 (−$16.77 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.