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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 ~0.7d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+44.95%
7d Period Avg+49.65%
swing±24.19%
LONG Variational · now
−33.99%
7d avg:−36.31%
SHORT Hyperliquid · now
+10.96%
7d avg:+13.34%
Entry Spread Now
+0.319%
In your favorL 0.3351 · S 0.3361+$31.94 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
+$85.97
+0.86%
$Avg Daily PnL
+$13.57
+0.1357%
★Best Day
+$20.63
Sep 23
◎Open Interest
Variational$807.6K
Hyperliquid$631.2K⚡Funding APR
+49.52%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
15.8h
to break even
◧24h Volume
Variational$128.0KHyperliquid$841.0KLoading 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.