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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 ~7.8d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+5.22%
7d Period Avg+2.73%
swing±7.38%
LONG Hyperliquid · now
−6.10%
7d avg:+5.02%
SHORT Lighter · now
−0.88%
7d avg:+7.75%
Entry Spread Now
−0.545%
Against youL ask 102.8700 · S bid 102.3090−$54.53 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
−$5.67
−0.06%
$Avg Daily PnL
+$0.78
+0.0078%
★Best Day
+$1.53
Oct 14
◎Open Interest
Hyperliquid$556.11M
Lighter$16.15M⚡Funding APR
+2.84%
annualized · funding only
⚠Execution Cost
−$11.12
entry + exit fees
⏱Payback
14.3d
to break even
◧24h Volume
Hyperliquid$67.87MLighter$36.71MLoading 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 (−$11.12 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.