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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 ~2.3d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+34.33%
3d Period Avg+8.36%
swing±14.41%
LONG Phemex · now
−1.02%
3d avg:+4.23%
SHORT Hibachi · nowBTC/USDT-P
+33.31%
3d avg:+12.59%
Entry Spread Now
−0.005%
NeutralL ask 77,974.6 · S bid 77,970.8
24h range −0.12%…+0.03% · median −0.03%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0.045%
Loading Funding History…
↗Total PnL
−$13.54
−0.14%
$Avg Daily PnL
+$2.57
+0.0257%
★Best Day
+$3.18
Nov 1
◎Open Interest
Phemex$178.73M
Hibachi$485.2K⚡Funding APR
+9.39%
annualized · funding only
⚠Execution Cost
−$21.26
entry + exit fees
⏱Payback
8.3d
to break even
◧24h Volume
Phemex$31.71MHibachi$6.11MLoading 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 (−$21.26 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.