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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 ~370d
ⓘSlippage estimate may be inaccurate (thin orderbook or partial fill)
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+1.08%
3d Period Avg+6.83%
swing±12.21%
LONG Phemex · now
+0.00%
3d avg:+0.00%
SHORT Pionex · nowMSTRX_USDT_PERP
+1.08%
3d avg:+6.83%
Entry Spread Now
−0.006%
Against youL ask 160.3100 · S bid 160.3000−$0.62 at entry
24h range −0.15%…+0.14% · median −0.02%
Long pays every4hShort pays every8h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$103.87
−1.04%
$Avg Daily PnL
+$1.87
+0.0187%
★Best Day
+$3.37
Sep 26
◎Open Interest
Phemex$2.67M
Pionex$6.35M⚡Funding APR
+6.83%
annualized · funding only
⚠Execution Cost
−$109.48
entry + exit fees
⏱Payback
2.0mo
to break even
◧24h Volume
Phemex$67.1KPionex$7.84MLoading 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 (−$109.48 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.