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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 ~213d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
3d Period Avg+5.16%
swing±10.56%
LONG Lighter · now
+10.52%
3d avg:+8.07%
SHORT Hyperliquid · now
+10.96%
3d avg:+13.23%
Entry Spread Now
−0.321%
Against youL 0.3420 · S 0.3409−$32.13 if it converges
24h range −0.80%…+1.54% · median −0.05%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$21.41
−0.21%
$Avg Daily PnL
+$1.41
+0.0141%
★Best Day
+$2.11
Oct 13
◎Open Interest
Lighter$1.15M
Hyperliquid$32.55M⚡Funding APR
+5.16%
annualized · funding only
⚠Execution Cost
−$25.65
entry + exit fees
⏱Payback
18.1d
to break even
◧24h Volume
Lighter$682.6KHyperliquid$13.07MLoading 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 (−$25.65 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.