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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 ~5.0d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+35.32%
3d Period Avg−20.31%
swing±39.40%
LONG Lighter · now
+10.52%
3d avg:+43.16%
SHORT Hyperliquid · now
+45.84%
3d avg:+22.85%
Entry Spread Now
−2.692%
Against youL ask 1.8625 · S bid 1.8124−$269.20 at entry
24h range −1.53%…+1.57% · median −0.06%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$65.21
−0.65%
$Avg Daily PnL
−$5.56
−0.0556%
★Best Day
+$0.86
Oct 2
◎Open Interest
Lighter$6.87M
Hyperliquid$39.05M⚡Funding APR
−20.30%
annualized · funding only
⚠Execution Cost
−$48.52
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Lighter$1.65MHyperliquid$34.01MLoading 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 (−$48.52 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.