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updated 7:18:34 PMFunding Arbitrage Backtester
Size$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−106.25%
3d Period Avg−120.60%
LONG Backpack · nowBILL_USDC_PERP
+117.20%
3d avg:+131.56%
SHORT Bitget · now
+10.96%
3d avg:+10.96%
Entry Spread Now
+0.049%
Eaten by executionL 0.02021 · S 0.02022+$4.95 if it converges
24h range −0.35%…+0.25% · median +0.07%
Long pays every1hShort pays every4h
LONGmaker0.020%/taker0.050%SHORTmaker0.020%/taker0.060%
Loading Funding History…
↗Total PnL
−$118.93
−1.19%
$Avg Daily PnL
−$24.23
−0.2423%
★Best Day
−$2.18
Aug 14
◎Open Interest
Backpack$53.6K
Bitget$810.1K⚡Funding APR
−88.45%
annualized · funding only
⚠Execution Cost
−$22.00
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Backpack$24.6KBitget$366.9KLoading 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.