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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
−13.65%
3d Period Avg+10.07%
swing±18.76%
LONG Phemex · now
+10.96%
3d avg:−18.00%
SHORT Hyperliquid · now
−2.70%
3d avg:−7.93%
Entry Spread Now
−0.013%
NeutralL 0.3132 · S 0.3132
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
−$14.02
−0.14%
$Avg Daily PnL
+$2.74
+0.0274%
★Best Day
+$2.75
Nov 13
◎Open Interest
Phemex$3.35M
Hyperliquid$11.79M⚡Funding APR
+10.00%
annualized · funding only
⚠Execution Cost
−$22.24
entry + exit fees
⏱Payback
8.1d
to break even
◧24h Volume
Phemex$858.6KHyperliquid$1.25MLoading 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 (−$22.24 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.