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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 ~1.4d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+60.28%
7d Period Avg+6.49%
swing±12.46%
LONG Lighter · now
+10.52%
7d avg:+9.95%
SHORT Hyperliquid · now
+70.80%
7d avg:+16.44%
Entry Spread Now
−0.701%
Against youL 0.08560 · S 0.08500−$70.09 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
−$10.03
−0.10%
$Avg Daily PnL
+$1.78
+0.0178%
★Best Day
+$3.93
Oct 11
◎Open Interest
Lighter$575.5K
Hyperliquid$51.60M⚡Funding APR
+6.49%
annualized · funding only
⚠Execution Cost
−$22.47
entry + exit fees
⏱Payback
12.6d
to break even
◧24h Volume
Lighter$3.05MHyperliquid$89.08MLoading 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 (−$22.47 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.