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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 ~1.2d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+76.72%
3d Period Avg+26.00%
swing±17.29%
LONG Backpack · nowAVAX_USDC_PERP
−51.48%
3d avg:+0.43%
SHORT Reya · nowAVAXRUSDPERP
+25.24%
3d avg:+26.43%
Entry Spread Now
+0.119%
Eaten by executionL 10.1950 · S 10.2071+$11.91 if it converges
24h range −0.19%…+0.06% · median −0.07%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.010%/taker0.030%
Loading Funding History…
↗Total PnL
−$3.27
−0.03%
$Avg Daily PnL
+$5.34
+0.0534%
★Best Day
+$9.09
Sep 23
◎Open Interest
Backpack$373.8K
Reya$548⚡Funding APR
+19.48%
annualized · funding only
⚠Execution Cost
−$24.62
entry + exit fees
⏱Payback
4.6d
to break even
◧24h Volume
Backpack$816.0KReya$163Loading 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 (−$24.62 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.