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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.00%
3d Period Avg+32.02%
swing±29.38%
LONG Variational · now
+10.96%
3d avg:+8.51%
SHORT Hyperliquid · now
+10.96%
3d avg:+40.53%
Entry Spread Now
+0.075%
In your favorL 0.4406 · S 0.4409+$7.49 if it converges
24h range −0.44%…+0.73% · median +0.21%
Long pays every4hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$16.20
+0.16%
$Avg Daily PnL
+$8.40
+0.0840%
★Best Day
+$16.82
Sep 26
◎Open Interest
Variational$826.4K
Hyperliquid$4.18M⚡Funding APR
+30.66%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
1.1d
to break even
◧24h Volume
Variational$286.4KHyperliquid$2.15MLoading 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.