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updated —ICP Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~0.8d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+98.72%
3d Period Avg+116.66%
swing±10.42%
LONG Phemex · now
−90.56%
3d avg:−108.42%
SHORT Binance Futures · now
+8.15%
3d avg:+8.24%
Entry Spread Now
+0.209%
In your favorL 2.3970 · S 2.4020+$20.86 if it converges
24h range −0.61%…+0.71% · median +0.17%
Long pays every8hShort pays every8h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
+$73.82
+0.74%
$Avg Daily PnL
+$31.94
+0.3194%
★Best Day
+$33.97
Nov 13
◎Open Interest
Phemex$1.61M
Binance Futures$20.85M⚡Funding APR
+116.58%
annualized · funding only
⚠Execution Cost
−$22.00
entry + exit fees
⏱Payback
16.6h
to break even
◧24h Volume
Phemex$648.8KBinance Futures$31.90MLoading 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 (−$22.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.