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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 ~8.5d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+15.51%
7d Period Avg+18.50%
swing±11.76%
LONG Variational · now
−4.55%
7d avg:−10.78%
SHORT Phemex · now
+10.96%
7d avg:+7.72%
Entry Spread Now
−0.109%
Against youL ask 10.8118 · S bid 10.8000−$10.91 at entry
24h range −0.22%…+0.69% · median +0.04%
Long pays every8hShort pays every8h
LONGmaker0%/taker0%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
−$0.68
−0.01%
$Avg Daily PnL
+$5.07
+0.0507%
★Best Day
+$6.29
Sep 21
◎Open Interest
Variational$2.84M
Phemex$29.74M⚡Funding APR
+18.49%
annualized · funding only
⚠Execution Cost
−$36.14
entry + exit fees
⏱Payback
7.1d
to break even
◧24h Volume
Variational$2.35MPhemex$3.85MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$36.14 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.