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updated —BTC Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~6.4d
ⓘSlippage estimate may be inaccurate (thin orderbook or partial fill)
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+14.42%
1d Period Avg+8.83%
swing±89.76%
LONG Phemex · now
−3.47%
1d avg:−1.79%
SHORT Bluefin · nowBTC-PERP
+10.96%
1d avg:+7.04%
Entry Spread Now
−0.079%
Against youL ask 78,029 · S bid 77,967.2−$7.92 at entry
24h range −0.94%…+0.96% · median −0.07%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.005%/taker0.035%
Loading Funding History…
↗Total PnL
−$22.36
−0.22%
$Avg Daily PnL
+$2.88
+0.0288%
★Best Day
+$2.66
Nov 1
◎Open Interest
Phemex$178.88M
Bluefin$48.6K⚡Funding APR
+10.51%
annualized · funding only
⚠Execution Cost
−$25.24
entry + exit fees
⏱Payback
8.8d
to break even
◧24h Volume
Phemex$31.96MBluefin$43.8KLoading 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 (−$25.24 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.