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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
+181.03%
30d Period Avg+68.85%
swing±94.53%
LONG Backpack · now2Z_USDC_PERP
−37.99%
30d avg:−51.05%
SHORT Toobit · now2Z-SWAP-USDT
+143.03%
30d avg:+17.80%
Entry Spread Now
−0.035%
Eaten by executionL 0.05779 · S 0.05777−$3.46 if it converges
24h range −0.54%…+0.35% · median −0.09%
Long pays every1hShort pays every4h
LONGmaker0.020%/taker0.050%SHORTmaker0.020%/taker0.060%
Loading Funding History…
↗Total PnL
+$526.90
+5.27%
$Avg Daily PnL
+$18.30
+0.1830%
★Best Day
+$39.07
Sep 16
◎Open Interest
Backpack$72.2K
Toobit$467.3K⚡Funding APR
+66.78%
annualized · funding only
⚠Execution Cost
−$22.00
entry + exit fees
⏱Payback
1.2d
to break even
◧24h Volume
Backpack$5.0KToobit$1.24MLoading 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 (−$22.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.