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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
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.00%
3d Period Avg+4.39%
swing±6.53%
LONG Hyperliquid · now
+10.96%
3d avg:+10.09%
SHORT Backpack · nowPAXG_USDC_PERP
+10.96%
3d avg:+14.48%
Entry Spread Now
−0.040%
Eaten by executionL 4,151.6 · S 4,149.95−$3.97 if it converges
24h range −0.09%…−0.02% · median −0.06%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$15.44
−0.15%
$Avg Daily PnL
+$1.19
+0.0119%
★Best Day
+$1.97
Oct 16
◎Open Interest
⚡Funding APR
+4.33%
annualized · funding only
⚠Execution Cost
−$19.00
entry + exit fees
⏱Payback
16.0d
to break even
◧24h Volume
Loading 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 (−$19.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.