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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 ~11d
ⓘSlippage estimate may be inaccurate (thin orderbook or partial fill)
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+44.07%
3d Period Avg+19.05%
swing±19.53%
LONG Phemex · now
+0.00%
3d avg:+0.00%
SHORT Bybit · now
+44.07%
3d avg:+19.05%
Entry Spread Now
−0.112%
Against youL ask 160.9500 · S bid 160.7700−$11.18 at entry
24h range −0.15%…+0.14% · median −0.02%
Long pays every4hShort pays every8h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.055%
Loading Funding History…
↗Total PnL
−$115.88
−1.16%
$Avg Daily PnL
+$5.22
+0.0522%
★Best Day
+$7.68
Sep 26
◎Open Interest
Phemex$2.67M
Bybit$14.89M⚡Funding APR
+19.04%
annualized · funding only
⚠Execution Cost
−$131.53
entry + exit fees
⏱Payback
25.2d
to break even
◧24h Volume
Phemex$67.1KBybit$9.07MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$131.53 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.