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updated —ENA Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~2.2d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+47.90%
1d Period Avg−47.14%
swing±168.03%
LONG Phemex · now
−26.00%
1d avg:−86.85%
SHORT Bullet · now
+21.89%
1d avg:−133.99%
Entry Spread Now
−0.112%
Eaten by executionL 0.1923 · S 0.1921−$11.16 if it converges
24h range −0.62%…+0.28% · median −0.04%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.010%/taker0.040%
Loading Funding History…
↗Total PnL
−$39.27
−0.39%
$Avg Daily PnL
−$9.92
−0.0992%
★Best Day
+$2.15
Oct 31
◎Open Interest
Phemex$1.90M
Bullet$680⚡Funding APR
−36.22%
annualized · funding only
⚠Execution Cost
−$29.35
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Phemex$10.08MBullet$32.8KLoading 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 (−$29.35 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.