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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 ~0.9d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+34.92%
7d Period Avg+27.09%
swing±22.73%
LONG Variational · now
−23.96%
7d avg:−3.60%
SHORT Hyperliquid · now
+10.96%
7d avg:+23.49%
Entry Spread Now
−0.203%
Against youL 0.8043 · S 0.8027−$20.27 if it converges
24h range −0.82%…+2.04% · median +0.18%
Long pays every4hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$43.19
+0.43%
$Avg Daily PnL
+$7.46
+0.0746%
★Best Day
+$14.26
Sep 26
◎Open Interest
Variational$773.2K
Hyperliquid$5.42M⚡Funding APR
+27.21%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
1.2d
to break even
◧24h Volume
Variational$303.0KHyperliquid$5.02MLoading 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 (−$9.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.