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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 ~158d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
7d Period Avg+2.41%
swing±19.39%
LONG Lighter · now
+10.52%
7d avg:+2.50%
SHORT Hyperliquid · now
+10.96%
7d avg:+4.91%
Entry Spread Now
−0.372%
Against youL 560.9140 · S 558.8300−$37.15 if it converges
24h range −0.45%…+0.58% · median +0.05%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$14.37
−0.14%
$Avg Daily PnL
+$0.66
+0.0066%
★Best Day
+$2.49
Oct 13
◎Open Interest
Lighter$2.29M
Hyperliquid$65.60M⚡Funding APR
+2.41%
annualized · funding only
⚠Execution Cost
−$19.00
entry + exit fees
⏱Payback
28.7d
to break even
◧24h Volume
Lighter$1.18MHyperliquid$12.20MLoading 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 (−$19.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.