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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 ~8.3d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.94%
7d Period Avg+3.76%
swing±5.54%
LONG Lighter Robinhood · nowXRP-USDG
+7.01%
7d avg:+7.06%
SHORT Hyperliquid · now
+10.96%
7d avg:+10.82%
Entry Spread Now
+0.025%
Eaten by executionL 1.2972 · S 1.2975+$2.47 if it converges
24h range −0.13%…+0.11% · median +0.03%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$1.79
−0.02%
$Avg Daily PnL
+$1.03
+0.0103%
★Best Day
+$3.08
Oct 23
◎Open Interest
Lighter Robinhood$609.5K
Hyperliquid$227.62M⚡Funding APR
+3.76%
annualized · funding only
⚠Execution Cost
−$9.00
entry + exit fees
⏱Payback
8.7d
to break even
◧24h Volume
Lighter Robinhood$888.0KHyperliquid$68.87MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (−$9.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.