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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 ~96d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
3d Period Avg+3.77%
swing±11.20%
LONG Lighter · now
+10.52%
3d avg:+0.24%
SHORT Hyperliquid · now
+10.96%
3d avg:+4.01%
Entry Spread Now
+0.203%
In your favorL ask 1.3336 · S bid 1.3363+$20.25 at entry
24h range −0.05%…+0.08% · median +0.01%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$8.46
−0.08%
$Avg Daily PnL
+$1.03
+0.0103%
★Best Day
+$3.36
Oct 13
◎Open Interest
Lighter$2.66M
Hyperliquid$248.85M⚡Funding APR
+3.77%
annualized · funding only
⚠Execution Cost
−$11.56
entry + exit fees
⏱Payback
11.2d
to break even
◧24h Volume
Lighter$5.25MHyperliquid$64.36MLoading 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 (−$11.56 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.