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updated —ETH Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~9.5d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+4.37%
7d Period Avg+3.51%
swing±4.41%
LONG Pionex · nowETH_USDT_PERP
+6.59%
7d avg:+4.31%
SHORT Variational · now
+10.96%
7d avg:+7.82%
Entry Spread Now
−0.147%
Against youL ask 1,908.18 · S bid 1,905.37−$14.73 at entry
24h range −0.40%…+0.32% · median −0.08%
Long pays every8hShort pays every8h
LONGmaker0.020%/taker0.050%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$4.69
−0.05%
$Avg Daily PnL
+$0.96
+0.0096%
★Best Day
+$1.90
Nov 11
◎Open Interest
Pionex$44.98M
Variational$88.44M⚡Funding APR
+3.50%
annualized · funding only
⚠Execution Cost
−$11.41
entry + exit fees
⏱Payback
11.9d
to break even
◧24h Volume
Pionex$3.30BVariational$130.52MLoading 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 (−$11.41 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.