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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 ~116d
ⓘSlippage estimate may be inaccurate (thin orderbook or partial fill)
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+5.24%
7d Period Avg+88.15%
swing±85.98%
LONG Bybit · nowBZUSDT
−5.24%
7d avg:−88.15%
SHORT Phemex · nowXBRUSDT
+0.00%
7d avg:+0.00%
Entry Spread Now
+0.235%
In your favorL ask 93.5000 · S bid 93.7200+$23.53 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
−$1.72
−0.02%
$Avg Daily PnL
+$23.56
+0.2356%
★Best Day
+$47.14
Nov 11
◎Open Interest
Bybit$16.73M
Phemex$1.96M⚡Funding APR
+86.00%
annualized · funding only
⚠Execution Cost
−$166.65
entry + exit fees
⏱Payback
7.1d
to break even
◧24h Volume
Bybit$11.29MPhemex$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 (−$166.65 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.