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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 ~6.4d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+13.20%
7d Period Avg+28.18%
swing±44.55%
LONG Phemex · now
+10.96%
7d avg:+10.96%
SHORT Bybit · now
+24.16%
7d avg:+39.14%
Entry Spread Now
+0.064%
Eaten by executionL 0.1241 · S 0.1242+$6.44 if it converges
24h range −0.51%…+0.50% · median +0.02%
Long pays every4hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.055%
Loading Funding History…
↗Total PnL
+$31.01
+0.31%
$Avg Daily PnL
+$7.72
+0.0772%
★Best Day
+$22.17
Sep 23
◎Open Interest
Phemex$1.52M
Bybit$9.96M⚡Funding APR
+28.16%
annualized · funding only
⚠Execution Cost
−$23.00
entry + exit fees
⏱Payback
3.0d
to break even
◧24h Volume
Phemex$2.35MBybit$16.22MLoading 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.