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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 ~16d
ⓘSlippage estimate may be inaccurate (thin orderbook or partial fill)
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+8.32%
7d Period Avg+13.01%
swing±23.53%
LONG Pionex · nowZRO_USDT_PERP
+2.64%
7d avg:+9.46%
SHORT Hyperliquid · now
+10.96%
7d avg:+22.47%
Entry Spread Now
+0.271%
In your favorL 1.6253 · S 1.6297+$27.07 if it converges
24h range −0.48%…+1.74% · median +0.16%
Long pays every4hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$12.13
−0.12%
$Avg Daily PnL
+$3.52
+0.0352%
★Best Day
+$8.98
Sep 23
◎Open Interest
Pionex$1.48M
Hyperliquid$30.25M⚡Funding APR
+12.86%
annualized · funding only
⚠Execution Cost
−$36.79
entry + exit fees
⏱Payback
10.4d
to break even
◧24h Volume
Pionex$439.8KHyperliquid$12.88MLoading 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 (−$36.79 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.