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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 ~2.2d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+43.64%
3d Period Avg+44.11%
swing±35.02%
LONG Phemex · now
+10.96%
3d avg:+10.89%
SHORT Hyperliquid · now
+54.60%
3d avg:+55.00%
Entry Spread Now
+0.168%
In your favorL 0.5427 · S 0.5436+$16.77 if it converges
24h range −0.13%…+1.24% · median +0.11%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$6.33
+0.06%
$Avg Daily PnL
+$10.90
+0.1090%
★Best Day
+$16.31
Sep 26
◎Open Interest
Phemex$2.14M
Hyperliquid$48.42M⚡Funding APR
+39.80%
annualized · funding only
⚠Execution Cost
−$26.38
entry + exit fees
⏱Payback
2.4d
to break even
◧24h Volume
Phemex$4.40MHyperliquid$81.73MLoading 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 (−$26.38 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.