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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 ~6.8d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+4.80%
3d Period Avg+9.58%
swing±10.44%
LONG Variational · now
+10.96%
3d avg:+2.28%
SHORT Hyperliquid · now
+15.76%
3d avg:+11.86%
Entry Spread Now
+0.226%
In your favorL 0.2253 · S 0.2259+$22.63 if it converges
24h range −0.13%…+0.43% · median +0.14%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$1.34
−0.01%
$Avg Daily PnL
+$2.55
+0.0255%
★Best Day
+$4.00
Oct 1
◎Open Interest
Variational$569.3K
Hyperliquid$11.04M⚡Funding APR
+9.32%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
3.5d
to break even
◧24h Volume
Variational$302.1KHyperliquid$6.60MLoading 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 (−$9.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.