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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 ~1.1d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+78.03%
3d Period Avg+13.09%
swing±18.55%
LONG Phemex · now
+0.00%
3d avg:+0.00%
SHORT Bybit · now
+78.03%
3d avg:+13.09%
Entry Spread Now
+0.056%
Eaten by executionL 71.1200 · S 71.1600+$5.62 if it converges
24h range −0.28%…+0.14% · median −0.17%
Long pays every8hShort pays every8h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.055%
Loading Funding History…
↗Total PnL
−$12.25
−0.12%
$Avg Daily PnL
+$3.58
+0.0358%
★Best Day
+$7.29
Sep 25
◎Open Interest
Phemex$1.43M
Bybit$1.31M⚡Funding APR
+13.08%
annualized · funding only
⚠Execution Cost
−$23.00
entry + exit fees
⏱Payback
6.4d
to break even
◧24h Volume
Phemex$55.4KBybit$51.1KLoading 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.