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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 ~227d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
3d Period Avg+14.22%
swing±26.53%
LONG Lighter · now
+10.52%
3d avg:−6.38%
SHORT Hyperliquid · now
+10.96%
3d avg:+7.84%
Entry Spread Now
−0.298%
Against youL ask 0.08552 · S bid 0.08526−$29.82 at entry
24h range −2.39%…+2.46% · median +0.09%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$15.64
−0.16%
$Avg Daily PnL
+$3.89
+0.0389%
★Best Day
+$6.59
Oct 15
◎Open Interest
Lighter$5.99M
Hyperliquid$63.47M⚡Funding APR
+14.21%
annualized · funding only
⚠Execution Cost
−$27.32
entry + exit fees
⏱Payback
7.0d
to break even
◧24h Volume
Lighter$3.11MHyperliquid$31.42MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$27.32 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.