fundarb

Cross-venue funding-rate arbitrage CLI for crypto perpetuals.

EXPERIMENTAL — DO NOT USE WITH REAL FUNDS. This repo is a personal sandbox for funding-rate arbitrage research. Multiple code paths are stubs or have known bugs. Use only on testnet, only as a reference for the techniques, and audit every line before any live use.

Async client + interactive CLI that compares funding rates across major decentralised perpetual venues, surfaces basis-trade opportunities, and executes the delta-neutral leg on the user's signature key. Used for live signal generation and execution on personal capital — not a hosted service.

Disclaimer. This is a personal research tool. Crypto perpetual trading is risky; funding rates change every 1–8h; venue uptime and oracle pricing are not guaranteed. Use at your own risk. No financial advice. The maintainer is not responsible for losses, liquidations, or venue-specific issues.

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What it does

1. Polls funding rates from each venue's public REST API on a fixed interval.
2. Normalises symbols across venues — BTC_USDC (Backpack), PERP_BTC_USDC (Orderly), BTC (Hyperliquid) all collapse to BTC.
3. Computes pairwise rate deltas — funds you receive on the long leg minus funds you pay on the short leg, annualised.
4. Surfaces arb opportunities — pairs whose 1y-normalised funding-rate spread clears a configurable threshold (default ≥ 5%/yr) after estimated trading and bridging costs.
5. Executes the delta-neutral pair — Hyperliquid (EIP-712 signed) + Orderly (ed25519 signed) + Backpack (ed25519 signed) — in single-CLI flow with size and slippage caps.
6. Monitors positions and surfaces P&L attribution between funding-realised flow and mark-price drift.

Supported venues

Venue	Status	Auth	Notes
Hyperliquid	Live	EIP-712 (eth-account)	Spot + perp markets; reads public meta endpoint for funding
Orderly Network	Live	Ed25519 + EIP-712 onboarding	Uses Orderly's signing-broker model; account ID + secret key required
Backpack	Live	Ed25519 (base58)	Mainnet only; testnet endpoints not always available
Apex Pro	Scaffolded, not active	n/a	src/apex/ contains an early scaffold; not wired into the live menu

The CLI shows only the three live venues. Apex code is retained for future expansion.

Quick start

git clone https://github.com/mkzung/fundarb.git
cd fundarb
python3 -m venv .venv && source .venv/bin/activate
pip install -r requirements.txt
cp .env.example .env     # then fill in HL_PRIVATE_KEY / ORDERLY_ACCOUNT_ID / ORDERLY_SECRET / BACKPACK_PUBLIC_KEY / BACKPACK_PRIVATE_KEY
python main.py

The CLI launches an interactive prompt_toolkit menu — start with "Show funding-rate deltas across all DEXs" to verify connectivity before signing anything.

Network mode

Set RUN_MAINNET=1 in .env to hit mainnet endpoints. Default is testnet for Hyperliquid and Orderly. Backpack mainnet-only.

Screenshots

Main menu
Funding-rate deltas across DEXs
Funding-rate deltas vs Orderly
Open positions
Account balances
Order filled

Architecture

main.py                  ← interactive prompt_toolkit menu
src/
  hyperliq/              ← Hyperliquid SDK wrapper (uses hyperliquid-python-sdk)
    funding_rate.py
    order.py
    hyperliq_utils.py
  orderly/               ← Orderly Network client (EIP-712 onboarding + ed25519 request signing)
    client.py
    funding_rate.py
    order.py
    position.py
    eip712.py
  backpack/              ← Backpack client (ed25519 + base58 signing)
    funding_rate.py
  apex/                  ← Apex Pro scaffold (not active)
  strategies/
    funding_rate_arbitrage.py   ← cross-venue spread + arb selection

Pure-Python; no compiled or proprietary dependencies. Each venue module isolates auth + endpoint specifics so adding a new venue is a single sub-package.

Risk controls

• Slippage cap + size cap enforced before every order submission.
• Testnet-default — set RUN_MAINNET=1 explicitly to trade real funds.
• Local-only secrets — .env is gitignored; secrets never leave the process.
• No remote callback / no API key forwarding — the CLI is a direct client-to-venue tool.

Roadmap

• Add CI workflow (lint + smoke import).
• Add pytest suite for symbol normalisation + spread calculation.
• Wire apex venue once Apex Pro public funding-rate endpoint is stable.
• Expand to Drift (Solana) once Anchor program account decoding is wired.
• Position-level P&L attribution graphs.

License

MIT — see LICENSE.

Author

Max Gorbuk · github.com/mkzung · Researcher at Stanford GSB Venture Capital Initiative.