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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 ~12d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.50%
3d Period Avg+3.13%
swing±8.45%
LONG Hyperliquid · now
−8.76%
3d avg:+2.29%
SHORT Lighter · now
−5.26%
3d avg:+5.42%
Entry Spread Now
−0.022%
Against youL ask 103.1700 · S bid 103.1470−$2.23 at entry
24h range −0.09%…+0.13% · median +0.00%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$8.36
−0.08%
$Avg Daily PnL
+$0.92
+0.0092%
★Best Day
+$1.24
Oct 16
◎Open Interest
Hyperliquid$561.11M
Lighter$16.51M⚡Funding APR
+3.34%
annualized · funding only
⚠Execution Cost
−$11.11
entry + exit fees
⏱Payback
12.1d
to break even
◧24h Volume
Hyperliquid$85.11MLighter$41.91MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$11.11 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.