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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 ~0.5d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+86.11%
3d Period Avg+114.42%
swing±11.64%
LONG Phemex · now
−88.97%
3d avg:−108.42%
SHORT Variational · now
−2.86%
3d avg:+6.00%
Entry Spread Now
−0.123%
Against youL 2.3940 · S 2.3911−$12.28 if it converges
24h range −1.00%…+0.59% · median +0.04%
Long pays every8hShort pays every8h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$81.99
+0.82%
$Avg Daily PnL
+$31.33
+0.3133%
★Best Day
+$33.98
Nov 13
◎Open Interest
Phemex$1.61M
Variational$625.4K⚡Funding APR
+114.35%
annualized · funding only
⚠Execution Cost
−$12.00
entry + exit fees
⏱Payback
9.1h
to break even
◧24h Volume
Phemex$648.6KVariational$126.9KLoading 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 (−$12.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.