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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 ~0.9d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+37.06%
3d Period Avg+33.18%
swing±17.89%
LONG Variational · now
−26.10%
3d avg:−21.51%
SHORT Hyperliquid · now
+10.96%
3d avg:+11.67%
Entry Spread Now
−0.216%
Against youL 0.3382 · S 0.3375−$21.58 if it converges
24h range −0.73%…+1.09% · median +0.21%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$18.56
+0.19%
$Avg Daily PnL
+$9.19
+0.0919%
★Best Day
+$13.53
Sep 27
◎Open Interest
Variational$820.1K
Hyperliquid$632.8K⚡Funding APR
+33.53%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
23.5h
to break even
◧24h Volume
Variational$94.0KHyperliquid$803.1KLoading 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.