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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 ~14d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+12.37%
7d Period Avg+2.96%
swing±9.98%
LONG Binance Futures · now
−7.50%
7d avg:+3.83%
SHORT Phemex · now
+4.87%
7d avg:+6.79%
Entry Spread Now
−0.060%
Against youL ask 91.3970 · S bid 91.3420−$6.02 at entry
24h range −0.05%…+0.09% · median +0.00%
Long pays every4hShort pays every8h
LONGmaker0.020%/taker0.050%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
−$40.07
−0.40%
$Avg Daily PnL
+$1.22
+0.0122%
★Best Day
+$4.22
Sep 26
◎Open Interest
Binance Futures$390.23M
Phemex$12.54M⚡Funding APR
+4.45%
annualized · funding only
⚠Execution Cost
−$48.60
entry + exit fees
⏱Payback
1.3mo
to break even
◧24h Volume
Binance Futures$424.56MPhemex$639.5KLoading 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 (−$48.60 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.