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updated —MSTR Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~36d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+2.41%
7d Period Avg−0.96%
swing±32.02%
LONG Phemex · now
+0.00%
7d avg:+0.00%
SHORT Pionex · nowMSTRX_USDT_PERP
+2.41%
7d avg:−0.96%
Entry Spread Now
+0.027%
Eaten by executionL 107.5400 · S 107.5692+$2.72 if it converges
24h range −0.61%…+0.39% · median +0.01%
Long pays every4hShort pays every8h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$25.70
−0.26%
$Avg Daily PnL
−$0.26
−0.0026%
★Best Day
+$5.53
Nov 10
◎Open Interest
Phemex$1.42M
Pionex$3.37M⚡Funding APR
−0.96%
annualized · funding only
⚠Execution Cost
−$23.86
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Phemex$1.01MPionex$9.82MLoading 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 (−$23.86 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.