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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 ~0.2d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+287.99%
3d Period Avg+17.84%
swing±36.77%
LONG Phoenix · nowkSHIB
+11.81%
3d avg:−7.89%
SHORT Coinbase International · now1000SHIB-PERP
+299.80%
3d avg:+9.95%
Entry Spread Now
−0.438%
Against youL 0.005940 · S 0.005914−$43.77 if it converges
24h range −2.07%…+2.31% · median +0.12%
Long pays every1hShort pays every1h
LONGmaker0.005%/taker0.035%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
−$1.12
−0.01%
$Avg Daily PnL
+$4.63
+0.0463%
★Best Day
+$8.13
Sep 30
◎Open Interest
Phoenix$2.5K
Coinbase International$66.2K⚡Funding APR
+16.89%
annualized · funding only
⚠Execution Cost
−$15.00
entry + exit fees
⏱Payback
3.2d
to break even
◧24h Volume
Phoenix—Coinbase International$89.1KLoading 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 (−$15.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.