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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
+102.31%
7d Period Avg+112.36%
swing±11.37%
LONG Phemex · now
−93.55%
7d avg:−105.81%
SHORT Binance Futures · now
+8.76%
7d avg:+6.55%
Entry Spread Now
+0.071%
Eaten by executionL 2.3960 · S 2.3977+$7.09 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
+$193.35
+1.93%
$Avg Daily PnL
+$30.76
+0.3076%
★Best Day
+$33.97
Nov 13
◎Open Interest
Phemex$1.61M
Binance Futures$20.83M⚡Funding APR
+112.29%
annualized · funding only
⚠Execution Cost
−$22.00
entry + exit fees
⏱Payback
17.3h
to break even
◧24h Volume
Phemex$649.4KBinance Futures$32.10MLoading 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.