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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
−0.44%
3d Period Avg+10.28%
swing±17.64%
LONG Hyperliquid · now
+10.96%
3d avg:+10.57%
SHORT Lighter · now
+10.52%
3d avg:+20.85%
Entry Spread Now
+0.060%
Eaten by executionL 22.2930 · S 22.3064+$6.01 if it converges
24h range −0.51%…+0.88% · median +0.04%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$15.61
−0.16%
$Avg Daily PnL
+$2.82
+0.0282%
★Best Day
+$4.61
Oct 15
◎Open Interest
Hyperliquid$62.22M
Lighter$1.45M⚡Funding APR
+10.28%
annualized · funding only
⚠Execution Cost
−$24.06
entry + exit fees
⏱Payback
8.5d
to break even
◧24h Volume
Hyperliquid$5.75MLighter$642.7KLoading 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 (−$24.06 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.