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updated 7:22:31 PMFunding Arbitrage Backtester
Size$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~20d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+5.48%
3d Period Avg+2.75%
LONG trade[XYZ] · nowxyz:TSM
+5.48%
3d avg:+8.21%
SHORT KuCoin · nowTSMUSDTM
+10.96%
3d avg:+10.96%
Entry Spread Now
+0.002%
NeutralL 430.9700 · S 430.9800
24h range −0.04%…+0.25% · median +0.06%
Long pays every1hShort pays every8h
LONGmaker0.030%/taker0.090%SHORTmaker0.020%/taker0.060%
Loading Funding History…
↗Total PnL
−$24.89
−0.25%
$Avg Daily PnL
+$1.28
+0.0128%
★Best Day
+$2.27
Aug 15
◎Open Interest
![trade[XYZ]](/icons/exchanges/hyperliquid.jpg){kind=icon}
trade[XYZ]$9.63M
KuCoin$731.4K⚡Funding APR
+4.66%
annualized · funding only
⚠Execution Cost
−$30.00
entry + exit fees
⏱Payback
23.5d
to break even
◧24h Volume
trade[XYZ]$3.72MKuCoin$494.0KLoading 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 (−$30.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.