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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 ~1.9d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+27.73%
7d Period Avg+28.21%
swing±30.12%
LONG Variational · now
+10.96%
7d avg:+7.34%
SHORT Hyperliquid · now
+38.69%
7d avg:+35.55%
Entry Spread Now
+0.201%
In your favorL 0.5480 · S 0.5491+$20.07 if it converges
24h range −1.30%…+1.07% · median +0.05%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$39.53
+0.40%
$Avg Daily PnL
+$7.66
+0.0766%
★Best Day
+$14.84
Sep 26
◎Open Interest
Variational$5.19M
Hyperliquid$48.45M⚡Funding APR
+27.96%
annualized · funding only
⚠Execution Cost
−$14.08
entry + exit fees
⏱Payback
1.8d
to break even
◧24h Volume
Variational$10.72MHyperliquid$80.36MLoading 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 (−$14.08 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.