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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 ~223d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
7d Period Avg+21.61%
swing±25.70%
LONG Lighter · now
+10.52%
7d avg:−14.81%
SHORT Hyperliquid · now
+10.96%
7d avg:+6.80%
Entry Spread Now
−0.428%
Against youL ask 0.08552 · S bid 0.08515−$42.80 at entry
24h range −4.34%…+2.46% · median +0.08%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$14.48
+0.14%
$Avg Daily PnL
+$5.92
+0.0592%
★Best Day
+$10.28
Oct 12
◎Open Interest
Lighter$6.00M
Hyperliquid$63.33M⚡Funding APR
+21.59%
annualized · funding only
⚠Execution Cost
−$26.93
entry + exit fees
⏱Payback
4.5d
to break even
◧24h Volume
Lighter$3.26MHyperliquid$34.29MLoading 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 (−$26.93 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.