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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 ~26d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+4.25%
3d Period Avg+13.56%
swing±15.65%
LONG Pionex · nowXLM_USDT_PERP
+10.96%
3d avg:+10.96%
SHORT Hyperliquid · now
+15.20%
3d avg:+24.52%
Entry Spread Now
+0.123%
Eaten by executionL 0.2154 · S 0.2157+$12.27 if it converges
24h range −0.25%…+0.59% · median +0.10%
Long pays every8hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$18.43
−0.18%
$Avg Daily PnL
+$3.81
+0.0381%
★Best Day
+$5.82
Sep 25
◎Open Interest
Pionex$857.2K
Hyperliquid$7.83M⚡Funding APR
+13.89%
annualized · funding only
⚠Execution Cost
−$29.85
entry + exit fees
⏱Payback
7.8d
to break even
◧24h Volume
Pionex$657.4KHyperliquid$2.30MLoading 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 (−$29.85 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.