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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 ~1.6d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+32.87%
3d Period Avg+13.04%
swing±12.43%
LONG Lighter · now
−21.91%
3d avg:−3.04%
SHORT Hyperliquid · now
+10.96%
3d avg:+10.00%
Entry Spread Now
+0.059%
Eaten by executionL 7.1095 · S 7.1137+$5.91 if it converges
24h range −0.17%…+0.28% · median +0.06%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$3.44
−0.03%
$Avg Daily PnL
+$3.60
+0.0360%
★Best Day
+$4.85
Oct 17
◎Open Interest
Lighter$1.30M
Hyperliquid$67.73M⚡Funding APR
+13.15%
annualized · funding only
⚠Execution Cost
−$14.25
entry + exit fees
⏱Payback
4.0d
to break even
◧24h Volume
Lighter$976.8KHyperliquid$5.64MLoading 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 (−$14.25 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.