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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+14.40%
swing±17.42%
LONG Hyperliquid · now
+10.96%
3d avg:+10.03%
SHORT Backpack · nowUNI_USDC_PERP
+10.96%
3d avg:+24.43%
Entry Spread Now
−0.049%
Eaten by executionL 7.1518 · S 7.1483−$4.89 if it converges
24h range −0.16%…+0.23% · median −0.03%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$11.64
−0.12%
$Avg Daily PnL
+$4.10
+0.0410%
★Best Day
+$7.52
Oct 15
◎Open Interest
Hyperliquid$68.11M
Backpack$1.18M⚡Funding APR
+14.95%
annualized · funding only
⚠Execution Cost
−$23.93
entry + exit fees
⏱Payback
5.8d
to break even
◧24h Volume
Hyperliquid$5.62MBackpack$199.3KLoading 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 (−$23.93 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.