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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 ~1.1d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+29.55%
7d Period Avg+13.32%
swing±14.71%
LONG Variational · now
−18.59%
7d avg:+0.51%
SHORT Hyperliquid · now
+10.96%
7d avg:+13.83%
Entry Spread Now
+0.227%
In your favorL 2.3822 · S 2.3876+$22.68 if it converges
24h range −0.61%…+2.12% · median +0.17%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$17.10
+0.17%
$Avg Daily PnL
+$3.73
+0.0373%
★Best Day
+$6.78
Sep 28
◎Open Interest
Variational$540.3K
Hyperliquid$7.13M⚡Funding APR
+13.61%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
2.4d
to break even
◧24h Volume
Variational$80.5KHyperliquid$2.53MLoading 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 (−$9.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.