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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 ~13d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+5.42%
7d Period Avg+4.01%
swing±19.90%
LONG Pionex · nowTRX_USDT_PERP
−41.34%
7d avg:−12.27%
SHORT Hyperliquid · now
−35.93%
7d avg:−8.26%
Entry Spread Now
+0.025%
Eaten by executionL 0.3330 · S 0.3331+$2.49 if it converges
24h range −0.10%…+0.09% · median −0.00%
Long pays every8hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$11.64
−0.12%
$Avg Daily PnL
+$1.10
+0.0110%
★Best Day
+$4.02
Sep 23
◎Open Interest
Pionex$1.97M
Hyperliquid$6.74M⚡Funding APR
+4.01%
annualized · funding only
⚠Execution Cost
−$19.33
entry + exit fees
⏱Payback
17.6d
to break even
◧24h Volume
Pionex$589.8KHyperliquid$2.85MLoading 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 (−$19.33 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.