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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 ~0.4d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+145.28%
30d Period Avg−1.65%
swing±32.28%
LONG Phoenix · nowkSHIB
+9.00%
30d avg:−3.72%
SHORT Coinbase International · now1000SHIB-PERP
+154.28%
30d avg:−5.37%
Entry Spread Now
+0.274%
In your favorL 0.005844 · S 0.005860+$27.38 if it converges
24h range −2.07%…+1.61% · median +0.10%
Long pays every1hShort pays every1h
LONGmaker0.005%/taker0.035%SHORTmaker0.020%/taker0.040%
Limited funding history — chart clipped to available data
- Phoenix (Long): data starts Sep 23, 2026 (7d available out of 30d requested)
KPIs (Total PnL, APR, Win Rate) calculated only over the available data range.
Sparse settlements: long 23%, short 100% of expected. KPIs may be noisy.
Loading Funding History…
↗Total PnL
−$130.96
−1.31%
$Avg Daily PnL
−$3.87
−0.0387%
★Best Day
+$6.35
Sep 30
◎Open Interest
Phoenix$2.5K
Coinbase International$68.1K⚡Funding APR
−14.11%
annualized · funding only
⚠Execution Cost
−$15.00
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Phoenix—Coinbase International$126.8KLoading 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.