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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 ~249d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
7d Period Avg+5.46%
swing±12.76%
LONG Lighter · now
+10.52%
7d avg:+6.82%
SHORT Hyperliquid · now
+10.96%
7d avg:+12.28%
Entry Spread Now
−0.064%
Eaten by executionL 0.3450 · S 0.3448−$6.38 if it converges
24h range −2.69%…+1.54% · median −0.05%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$19.57
−0.20%
$Avg Daily PnL
+$1.50
+0.0150%
★Best Day
+$4.04
Oct 12
◎Open Interest
Lighter$1.16M
Hyperliquid$33.05M⚡Funding APR
+5.46%
annualized · funding only
⚠Execution Cost
−$30.04
entry + exit fees
⏱Payback
20.1d
to break even
◧24h Volume
Lighter$880.0KHyperliquid$15.80MLoading 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 (−$30.04 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.