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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
+70.19%
30d Period Avg+26.47%
swing±18.78%
LONG Backpack · nowAVAX_USDC_PERP
−44.84%
30d avg:−6.36%
SHORT Reya · nowAVAXRUSDPERP
+25.35%
30d avg:+20.11%
Entry Spread Now
−0.067%
Eaten by executionL 10.2710 · S 10.2641−$6.71 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
+$193.65
+1.94%
$Avg Daily PnL
+$7.25
+0.0725%
★Best Day
+$15.36
Aug 29
◎Open Interest
Backpack$387.2K
Reya$551⚡Funding APR
+26.45%
annualized · funding only
⚠Execution Cost
−$23.78
entry + exit fees
⏱Payback
3.3d
to break even
◧24h Volume
Backpack$817.6KReya$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 (−$23.78 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.