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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.00%
3d Period Avg+43.33%
swing±24.64%
LONG Phemex · now
+10.96%
3d avg:−42.92%
SHORT Bybit · now
+10.96%
3d avg:+0.41%
Entry Spread Now
−0.044%
Eaten by executionL 4.5810 · S 4.5790−$4.37 if it converges
24h range −0.10%…+0.24% · median +0.04%
Long pays every4hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.055%
Loading Funding History…
↗Total PnL
+$12.60
+0.13%
$Avg Daily PnL
+$11.87
+0.1187%
★Best Day
+$15.62
Sep 26
◎Open Interest
Phemex$1.83M
Bybit$34.50M⚡Funding APR
+43.31%
annualized · funding only
⚠Execution Cost
−$23.00
entry + exit fees
⏱Payback
1.9d
to break even
◧24h Volume
Phemex$2.09MBybit$13.59MLoading 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.