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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
+0.00%
7d Period Avg+18.24%
swing±22.39%
LONG Phemex · now
+10.96%
7d avg:+10.96%
SHORT Hyperliquid · now
+10.96%
7d avg:+29.20%
Entry Spread Now
+0.084%
Eaten by executionL 0.2148 · S 0.2150+$8.38 if it converges
24h range +0.02%…+0.38% · median +0.10%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$5.04
+0.05%
$Avg Daily PnL
+$4.95
+0.0495%
★Best Day
+$12.37
Sep 22
◎Open Interest
Phemex$8.21M
Hyperliquid$7.78M⚡Funding APR
+18.06%
annualized · funding only
⚠Execution Cost
−$29.59
entry + exit fees
⏱Payback
6.0d
to break even
◧24h Volume
Phemex$6.72MHyperliquid$2.21MLoading 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 (−$29.59 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.