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updated —JUP Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~46d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.74%
3d Period Avg+22.41%
swing±10.40%
LONG Binance Futures · now
+7.22%
3d avg:−11.45%
SHORT Phemex · now
+10.96%
3d avg:+10.96%
Entry Spread Now
+0.116%
Eaten by executionL 0.2580 · S 0.2583+$11.63 if it converges
24h range −0.74%…+0.95% · median +0.03%
Long pays every4hShort pays every4h
LONGmaker0.020%/taker0.050%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
−$28.45
−0.28%
$Avg Daily PnL
+$6.13
+0.0613%
★Best Day
+$7.06
Nov 12
◎Open Interest
Binance Futures$12.55M
Phemex$2.68M⚡Funding APR
+22.36%
annualized · funding only
⚠Execution Cost
−$46.83
entry + exit fees
⏱Payback
7.7d
to break even
◧24h Volume
Binance Futures$20.28MPhemex$1.83MLoading 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 (−$46.83 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.