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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~1.6d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+40.76%
3d Period Avg+23.96%
swing±15.95%
LONG Backpack · nowBTC_USDC_PERP
+10.96%
3d avg:+10.96%
SHORT Coinbase International · nowBTC-PERP
+51.72%
3d avg:+34.92%
Entry Spread Now
−0.149%
Against youL 83,737.9 · S 83,613.5−$14.86 if it converges
24h range +0.04%…+0.62% · median +0.11%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.020%/taker0.040%
Stale data — coinbase-intl last updated 5h ago. This venue stopped reporting this market (delisted/renamed/blocked); the rate shown is not live.
Loading Funding History…
↗Total PnL
−$0.32
+0.00%
$Avg Daily PnL
+$5.90
+0.0590%
★Best Day
+$8.36
Sep 30
◎Open Interest
Backpack$38.17M
Coinbase International$86.24M⚡Funding APR
+21.52%
annualized · funding only
⚠Execution Cost
−$18.01
entry + exit fees
⏱Payback
3.0d
to break even
◧24h Volume
Backpack$195.59MCoinbase International$463.28MLoading 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 (−$18.01 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.