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updated —BRENT Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~242d
ⓘSlippage estimate may be inaccurate (thin orderbook or partial fill)
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+2.46%
3d Period Avg+91.35%
swing±90.73%
LONG Bybit · nowBZUSDT
−2.46%
3d avg:−91.35%
SHORT Phemex · nowXBRUSDT
+0.00%
3d avg:+0.00%
Entry Spread Now
+0.214%
In your favorL ask 93.5200 · S bid 93.7200+$21.39 at entry
24h range −0.10%…+0.46% · median +0.26%
Long pays every8hShort pays every4h
LONGmaker0.020%/taker0.055%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
−$91.93
−0.92%
$Avg Daily PnL
+$23.62
+0.2362%
★Best Day
+$37.81
Nov 12
◎Open Interest
Bybit$16.73M
Phemex$1.96M⚡Funding APR
+86.21%
annualized · funding only
⚠Execution Cost
−$162.79
entry + exit fees
⏱Payback
6.9d
to break even
◧24h Volume
Bybit$11.19MPhemex$46.4KLoading 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 (−$162.79 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.