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updated —MAGIC Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~3.6d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+25.33%
3d Period Avg+18.60%
swing±22.46%
LONG OKX · nowMAGIC-USDT-SWAP
−30.70%
3d avg:−1.65%
SHORT Gate.io · now
−5.37%
3d avg:+16.95%
Entry Spread Now
−0.068%
Eaten by executionL 0.07364 · S 0.07359−$6.79 if it converges
24h range −0.52%…+0.50% · median +0.07%
Long pays every4hShort pays every8h
LONGmaker0.020%/taker0.050%SHORTmaker-0.010%/taker0.075%
Loading Funding History…
↗Total PnL
−$11.96
−0.12%
$Avg Daily PnL
+$4.35
+0.0435%
★Best Day
+$6.03
Nov 13
◎Open Interest
OKX$1.27M
Gate.io$1.40M⚡Funding APR
+15.87%
annualized · funding only
⚠Execution Cost
−$25.00
entry + exit fees
⏱Payback
5.8d
to break even
◧24h Volume
OKX$1.92MGate.io$194.8KLoading 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 (−$25.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.