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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 ~3.3d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+13.44%
3d Period Avg−1.07%
swing±20.07%
LONG Phemex · now
+10.96%
3d avg:+10.96%
SHORT Variational · nowNATGAS
+24.39%
3d avg:+9.89%
Entry Spread Now
−0.011%
NeutralL 3.1160 · S 3.1157
24h range −0.50%…+0.20% · median −0.00%
Long pays every4hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$12.88
−0.13%
$Avg Daily PnL
−$0.29
−0.0029%
★Best Day
+$3.69
Sep 25
◎Open Interest
Phemex$1.57M
Variational$484.1K⚡Funding APR
−1.07%
annualized · funding only
⚠Execution Cost
−$12.00
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Phemex$36.0KVariational$164.8KLoading 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 (−$12.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.