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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.00%
3d Period Avg+18.43%
swing±18.94%
LONG Phemex · now
+10.96%
3d avg:+10.18%
SHORT Hyperliquid · now
+10.96%
3d avg:+28.61%
Entry Spread Now
+0.013%
In your favorL ask 317.8200 · S bid 317.8600+$1.26 at entry
24h range +0.02%…+0.44% · median +0.12%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$39.92
−0.40%
$Avg Daily PnL
+$4.83
+0.0483%
★Best Day
+$5.91
Sep 27
◎Open Interest
Phemex$3.35M
Hyperliquid$48.75M⚡Funding APR
+17.64%
annualized · funding only
⚠Execution Cost
−$54.42
entry + exit fees
⏱Payback
11.3d
to break even
◧24h Volume
Phemex$9.06MHyperliquid$36.96MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$54.42 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.