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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~1.6d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+27.07%
7d Period Avg+63.83%
swing±32.05%
LONG Phemex · now
−48.28%
7d avg:−75.63%
SHORT Variational · now
−21.22%
7d avg:−11.80%
Entry Spread Now
+0.037%
Eaten by executionL 3.1070 · S 3.1081+$3.69 if it converges
24h range −0.33%…+0.43% · median +0.01%
Long pays every8hShort pays every8h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$110.33
+1.10%
$Avg Daily PnL
+$17.48
+0.1748%
★Best Day
+$21.89
Sep 27
◎Open Interest
Phemex$1.71M
Variational$1.27M⚡Funding APR
+63.79%
annualized · funding only
⚠Execution Cost
−$12.00
entry + exit fees
⏱Payback
16.6h
to break even
◧24h Volume
Phemex$580.3KVariational$37.3KLoading 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.