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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 ~1.4d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+81.76%
30d Period Avg+18.41%
swing±81.98%
LONG Backpack · nowCHIP_USDC_PERP
−41.54%
30d avg:+3.42%
SHORT NADO · nowCHIP-PERP
+40.22%
30d avg:+21.83%
Entry Spread Now
−0.035%
Eaten by executionL 0.04310 · S 0.04308−$3.48 if it converges
24h range −0.87%…+0.85% · median +0.05%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.010%/taker0.035%
Loading Funding History…
↗Total PnL
+$120.38
+1.20%
$Avg Daily PnL
+$5.05
+0.0505%
★Best Day
+$38.58
Sep 6
◎Open Interest
Backpack$12.2K
NADO$102.9K⚡Funding APR
+18.44%
annualized · funding only
⚠Execution Cost
−$31.15
entry + exit fees
⏱Payback
6.2d
to break even
◧24h Volume
Backpack$120.1KNADO$22.8KLoading 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 (−$31.15 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.