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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 ~0.9d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+94.12%
3d Period Avg+119.01%
swing±9.28%
LONG Phemex · now
−90.56%
3d avg:−108.42%
SHORT Bybit · now
+3.55%
3d avg:+10.59%
Entry Spread Now
−0.167%
Against youL 2.3970 · S 2.3930−$16.69 if it converges
24h range −0.92%…+0.63% · median +0.12%
Long pays every8hShort pays every8h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.055%
Loading Funding History…
↗Total PnL
+$74.75
+0.75%
$Avg Daily PnL
+$32.58
+0.3258%
★Best Day
+$33.98
Nov 13
◎Open Interest
Phemex$1.61M
Bybit$11.38M⚡Funding APR
+118.93%
annualized · funding only
⚠Execution Cost
−$23.00
entry + exit fees
⏱Payback
17.0h
to break even
◧24h Volume
Phemex$648.8KBybit$11.36MLoading 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 (−$23.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.