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updated —Funding Arbitrage Backtester
Size per leg$
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
−15.21%
30d Period Avg−15.52%
swing±103.82%
LONG Phoenix · now
+2.06%
30d avg:+3.90%
SHORT Hotcoin · now
−13.15%
30d avg:−11.62%
Entry Spread Now
+0.179%
In your favorL 1.6176 · S 1.6205+$17.93 if it converges
24h range +4.06%…+18.68% · median +8.21%
Long pays every1hShort pays every4h
LONGmaker0.005%/taker0.035%SHORTmaker0.020%/taker0.060%
Limited funding history — chart clipped to available data
- Phoenix (Long): data starts Sep 29, 2026 (2d available out of 30d requested)
KPIs (Total PnL, APR, Win Rate) calculated only over the available data range.
Sparse settlements: long 5%, short 100% of expected. KPIs may be noisy.
Loading Funding History…
↗Total PnL
−$28.74
−0.29%
$Avg Daily PnL
−$0.32
−0.0032%
★Best Day
+$3.00
Sep 2
◎Open Interest
Phoenix$70.3K
Hotcoin$77.3K⚡Funding APR
−1.18%
annualized · funding only
⚠Execution Cost
−$19.00
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Phoenix—Hotcoin$3.36MLoading 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 (−$19.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.