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updated —CRCL Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~26d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+1.65%
3d Period Avg+6.37%
swing±15.70%
LONG Variational · now
+0.00%
3d avg:+3.55%
SHORT Pionex · nowCRCLX_USDT_PERP
+1.65%
3d avg:+9.92%
Entry Spread Now
+0.037%
Eaten by executionL 60.5399 · S 60.5621+$3.67 if it converges
24h range −0.41%…+0.80% · median +0.07%
Long pays every8hShort pays every8h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$6.42
−0.06%
$Avg Daily PnL
+$1.74
+0.0174%
★Best Day
+$2.59
Nov 14
◎Open Interest
Variational$1.19M
Pionex$1.61M⚡Funding APR
+6.36%
annualized · funding only
⚠Execution Cost
−$11.65
entry + exit fees
⏱Payback
6.7d
to break even
◧24h Volume
Variational$651.5KPionex$1.06MLoading 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 (−$11.65 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.