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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 ~8.5d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+5.70%
3d Period Avg+1.88%
swing±3.56%
LONG Lighter Robinhood · nowXRP-USDG
+5.26%
3d avg:+9.08%
SHORT Hyperliquid · now
+10.96%
3d avg:+10.96%
Entry Spread Now
+0.031%
In your favorL ask 1.2818 · S bid 1.2822+$3.12 at entry
24h range −0.13%…+0.10% · median +0.03%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$11.81
−0.12%
$Avg Daily PnL
+$0.51
+0.0051%
★Best Day
+$0.97
Oct 29
◎Open Interest
Lighter Robinhood$606.6K
Hyperliquid$226.23M⚡Funding APR
+1.87%
annualized · funding only
⚠Execution Cost
−$13.35
entry + exit fees
⏱Payback
26.0d
to break even
◧24h Volume
Lighter Robinhood$816.9KHyperliquid$63.58MLoading 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 (−$13.35 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.