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updated 11:43:50 AMFunding Arbitrage Backtester
Size$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~1.0d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+69.17%
30d Period Avg+5.14%
LONG Hyperliquid · now
−17.24%
30d avg:+1.37%
SHORT Backpack · nowSTRK_USDC_PERP
+51.93%
30d avg:+6.51%
Entry Spread Now
+0.043%
Eaten by executionL 0.02307 · S 0.02308+$4.33 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
+$22.66
+0.23%
$Avg Daily PnL
+$1.34
+0.0134%
★Best Day
+$21.32
Jul 31
◎Open Interest
Hyperliquid$2.25M
Backpack$103.9K⚡Funding APR
+4.91%
annualized · funding only
⚠Execution Cost
−$19.00
entry + exit fees
⏱Payback
14.1d
to break even
◧24h Volume
Hyperliquid$292.6KBackpack$34.5KLoading 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.