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updated 12:50:47 PMFunding Arbitrage Backtester
Size$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~2.8d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+24.95%
3d Period Avg+27.41%
LONG Hyperliquid · now
−3.41%
3d avg:+8.47%
SHORT Backpack · nowSTRK_USDC_PERP
+21.55%
3d avg:+35.88%
Entry Spread Now
+0.217%
In your favorL 0.02309 · S 0.02314+$21.65 if it converges
24h range −0.26%…+0.39% · median +0.13%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
+$4.22
+0.04%
$Avg Daily PnL
+$5.80
+0.0580%
★Best Day
+$11.30
Aug 15
◎Open Interest
Hyperliquid$2.25M
Backpack$104.5K⚡Funding APR
+21.18%
annualized · funding only
⚠Execution Cost
−$19.00
entry + exit fees
⏱Payback
3.3d
to break even
◧24h Volume
Hyperliquid$300.5KBackpack$34.8KLoading 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 (−$19.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.