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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 ~0.4d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+133.11%
3d Period Avg+189.92%
swing±98.10%
LONG Phoenix · now
+0.13%
3d avg:−5.52%
SHORT Coinbase International · nowMORPHO-PERP
+133.24%
3d avg:+184.40%
Entry Spread Now
+0.252%
In your favorL 2.7006 · S 2.7074+$25.18 if it converges
24h range −1.53%…+7.42% · median +0.44%
Long pays every1hShort pays every1h
LONGmaker0.005%/taker0.035%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
+$128.92
+1.29%
$Avg Daily PnL
+$47.97
+0.4797%
★Best Day
+$65.65
Sep 27
◎Open Interest
Phoenix$32.9K
Coinbase International$37.4K⚡Funding APR
+175.10%
annualized · funding only
⚠Execution Cost
−$15.00
entry + exit fees
⏱Payback
7.4h
to break even
◧24h Volume
Phoenix—Coinbase International$471Loading 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 (−$15.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.