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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%
7d Period Avg+5.87%
swing±28.74%
LONG Variational · now
+0.00%
7d avg:+0.04%
SHORT Pionex · nowCRCLX_USDT_PERP
+1.65%
7d avg:+5.91%
Entry Spread Now
+0.098%
In your favorL 60.4905 · S 60.5500+$9.83 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
−$0.41
+0.00%
$Avg Daily PnL
+$1.61
+0.0161%
★Best Day
+$8.08
Nov 8
◎Open Interest
Variational$1.20M
Pionex$1.61M⚡Funding APR
+5.86%
annualized · funding only
⚠Execution Cost
−$11.65
entry + exit fees
⏱Payback
7.3d
to break even
◧24h Volume
Variational$650.0KPionex$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.