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updated —BRENT Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
ⓘSlippage estimate may be inaccurate (thin orderbook or partial fill)
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.00%
3d Period Avg+83.02%
swing±101.90%
LONG Variational · nowBZ
+0.00%
3d avg:−83.02%
SHORT Phemex · nowXBRUSDT
+0.00%
3d avg:+0.00%
Entry Spread Now
+0.278%
In your favorL ask 93.4602 · S bid 93.7200+$27.80 at entry
24h range +0.04%…+0.55% · median +0.32%
Long pays every4hShort pays every4h
LONGmaker0%/taker0%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
−$94.94
−0.95%
$Avg Daily PnL
+$22.73
+0.2273%
★Best Day
+$36.64
Nov 12
◎Open Interest
Variational$5.63M
Phemex$1.96M⚡Funding APR
+82.96%
annualized · funding only
⚠Execution Cost
−$163.12
entry + exit fees
⏱Payback
7.2d
to break even
◧24h Volume
Variational$1.62MPhemex$46.2KLoading 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 (−$163.12 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.