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updated —TRX 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
−45.42%
1d Period Avg+4.81%
swing±15.07%
LONG Phemex · now
+9.62%
1d avg:−18.81%
SHORT Hyperliquid · now
−35.80%
1d avg:−14.00%
Entry Spread Now
−0.086%
Eaten by executionL 0.3132 · S 0.3130−$8.62 if it converges
24h range −0.07%…+0.03% · median −0.01%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$22.46
−0.22%
$Avg Daily PnL
+$1.71
+0.0171%
★Best Day
+$2.17
Nov 14
◎Open Interest
Phemex$3.35M
Hyperliquid$11.79M⚡Funding APR
+6.24%
annualized · funding only
⚠Execution Cost
−$24.17
entry + exit fees
⏱Payback
14.2d
to break even
◧24h Volume
Phemex$856.9KHyperliquid$1.24MLoading 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 (−$24.17 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.