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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 ~2.4d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+13.95%
7d Period Avg+35.09%
swing±36.13%
LONG Variational · now
+10.96%
7d avg:−0.45%
SHORT Hyperliquid · now
+24.91%
7d avg:+34.64%
Entry Spread Now
+0.375%
In your favorL 0.4426 · S 0.4443+$37.51 if it converges
24h range −0.39%…+0.73% · median +0.20%
Long pays every4hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$57.73
+0.58%
$Avg Daily PnL
+$9.53
+0.0953%
★Best Day
+$16.82
Sep 26
◎Open Interest
Variational$819.9K
Hyperliquid$4.22M⚡Funding APR
+34.79%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
22.6h
to break even
◧24h Volume
Variational$286.3KHyperliquid$2.22MLoading 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.