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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 ~1.5d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+48.59%
3d Period Avg+104.77%
swing±35.60%
LONG Backpack · nowOP_USDC_PERP
−11.49%
3d avg:−52.50%
SHORT HTX · now
+37.10%
3d avg:+52.27%
Entry Spread Now
+1.003%
In your favorL 0.1287 · S 0.1300+$100.26 if it converges
24h range −0.42%…+1.40% · median +0.51%
Long pays every1hShort pays every8h
LONGmaker0.020%/taker0.050%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
+$62.58
+0.63%
$Avg Daily PnL
+$27.53
+0.2753%
★Best Day
+$25.61
Oct 1
◎Open Interest
Backpack$170.3K
HTX$225.9K⚡Funding APR
+100.48%
annualized · funding only
⚠Execution Cost
−$20.00
entry + exit fees
⏱Payback
17.5h
to break even
◧24h Volume
Backpack$153.8KHTX$137.3KLoading 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 (−$20.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.