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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 ~183d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
3d Period Avg+4.00%
swing±9.25%
LONG Lighter · now
+10.52%
3d avg:+9.19%
SHORT Hyperliquid · now
+10.96%
3d avg:+13.19%
Entry Spread Now
+0.107%
Eaten by executionL 0.08437 · S 0.08446+$10.67 if it converges
24h range −2.54%…+2.60% · median +0.12%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$18.81
−0.19%
$Avg Daily PnL
+$1.09
+0.0109%
★Best Day
+$2.12
Oct 15
◎Open Interest
Lighter$541.0K
Hyperliquid$51.72M⚡Funding APR
+4.00%
annualized · funding only
⚠Execution Cost
−$22.09
entry + exit fees
⏱Payback
20.2d
to break even
◧24h Volume
Lighter$3.08MHyperliquid$87.11MLoading 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 (−$22.09 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.