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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 ~37d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+1.37%
7d Period Avg+3.26%
swing±6.39%
LONG Hyperliquid · now
+9.15%
7d avg:+7.26%
SHORT Lighter · now
+10.52%
7d avg:+10.52%
Entry Spread Now
+0.015%
NeutralL 0.9687 · S 0.9689
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
−$7.52
−0.08%
$Avg Daily PnL
+$0.89
+0.0089%
★Best Day
+$2.12
Oct 13
◎Open Interest
Hyperliquid$56.04M
Lighter$1.13M⚡Funding APR
+3.25%
annualized · funding only
⚠Execution Cost
−$13.75
entry + exit fees
⏱Payback
15.5d
to break even
◧24h Volume
Hyperliquid$18.17MLighter$498.9KLoading 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 (−$13.75 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.