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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 ~1.6d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+98.92%
3d Period Avg−2.30%
swing±135.16%
LONG Phemex · now
−11.26%
3d avg:−36.08%
SHORT Bullet · now
+87.66%
3d avg:−38.38%
Entry Spread Now
+0.031%
In your favorL ask 0.1914 · S bid 0.1915+$3.13 at entry
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
−$42.16
−0.42%
$Avg Daily PnL
+$0.67
+0.0067%
★Best Day
+$11.64
Oct 29
◎Open Interest
Phemex$1.89M
Bullet$475⚡Funding APR
+2.46%
annualized · funding only
⚠Execution Cost
−$44.18
entry + exit fees
⏱Payback
2.2mo
to break even
◧24h Volume
Phemex$10.02MBullet$32.0KLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$44.18 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.