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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 ~4.5d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+43.10%
3d Period Avg+38.66%
swing±22.04%
LONG Bybit · now
+10.96%
3d avg:+9.44%
SHORT Phemex · now
+54.06%
3d avg:+48.10%
Entry Spread Now
+0.223%
Eaten by executionL 1.2562 · S 1.2590+$22.29 if it converges
24h range −0.03%…+0.41% · median +0.19%
Long pays every8hShort pays every8h
LONGmaker0.020%/taker0.055%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
−$21.48
−0.21%
$Avg Daily PnL
+$10.59
+0.1059%
★Best Day
+$16.63
Sep 26
◎Open Interest
Bybit$24.60M
Phemex$2.82M⚡Funding APR
+38.64%
annualized · funding only
⚠Execution Cost
−$53.24
entry + exit fees
⏱Payback
5.0d
to break even
◧24h Volume
Bybit$17.49MPhemex$1.81MLoading 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 (−$53.24 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.