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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
+27.71%
3d Period Avg+2.61%
swing±6.27%
LONG Hyperliquid · now
−17.19%
3d avg:+7.91%
SHORT Lighter · now
+10.52%
3d avg:+10.52%
Entry Spread Now
+0.023%
Eaten by executionL 0.9745 · S 0.9747+$2.26 if it converges
24h range −0.16%…+0.19% · median +0.01%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$8.51
−0.09%
$Avg Daily PnL
+$0.72
+0.0072%
★Best Day
+$1.94
Oct 15
◎Open Interest
Hyperliquid$56.99M
Lighter$1.13M⚡Funding APR
+2.64%
annualized · funding only
⚠Execution Cost
−$10.68
entry + exit fees
⏱Payback
14.7d
to break even
◧24h Volume
Hyperliquid$20.25MLighter$566.0KLoading 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 (−$10.68 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.