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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−0.46%
7d Period Avg+2.52%
swing±10.88%
LONG Backpack · nowXRP_USDC_PERP
+7.10%
7d avg:+1.95%
SHORT Hyperliquid · now
+6.64%
7d avg:+4.47%
Entry Spread Now
+0.086%
In your favorL ask 1.2870 · S bid 1.2881+$8.55 at entry
24h range +0.02%…+0.20% · median +0.11%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$15.72
−0.16%
$Avg Daily PnL
+$0.69
+0.0069%
★Best Day
+$3.67
Oct 11
◎Open Interest
Backpack$1.21M
Hyperliquid$223.94M⚡Funding APR
+2.53%
annualized · funding only
⚠Execution Cost
−$20.56
entry + exit fees
⏱Payback
29.7d
to break even
◧24h Volume
Backpack$191.2KHyperliquid$37.69MLoading 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 (−$20.56 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.