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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%
7d Period Avg+3.95%
swing±14.55%
LONG Hyperliquid · now
+10.96%
7d avg:+12.07%
SHORT Lighter · now
+10.52%
7d avg:+16.02%
Entry Spread Now
+0.509%
In your favorL 22.2520 · S 22.3652+$50.87 if it converges
24h range −0.51%…+0.84% · median +0.04%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.045%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$22.24
−0.22%
$Avg Daily PnL
+$1.09
+0.0109%
★Best Day
+$4.61
Oct 15
◎Open Interest
Hyperliquid$62.22M
Lighter$1.45M⚡Funding APR
+3.98%
annualized · funding only
⚠Execution Cost
−$29.87
entry + exit fees
⏱Payback
27.4d
to break even
◧24h Volume
Hyperliquid$6.17MLighter$626.2KLoading 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 (−$29.87 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.