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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
+97.00%
7d Period Avg+112.27%
swing±12.08%
LONG Phemex · now
−93.55%
7d avg:−105.81%
SHORT Bybit · now
+3.45%
7d avg:+6.46%
Entry Spread Now
−0.042%
Eaten by executionL 2.3960 · S 2.3950−$4.17 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
+$192.16
+1.92%
$Avg Daily PnL
+$30.74
+0.3074%
★Best Day
+$33.98
Nov 13
◎Open Interest
Phemex$1.61M
Bybit$11.39M⚡Funding APR
+112.19%
annualized · funding only
⚠Execution Cost
−$23.00
entry + exit fees
⏱Payback
18.0h
to break even
◧24h Volume
Phemex$649.4KBybit$11.44MLoading 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.