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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 ~2.6d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+28.98%
3d Period Avg+68.84%
swing±22.15%
LONG Backpack · nowPAXG_USDC_PERP
−8.82%
3d avg:−40.28%
SHORT Hibachi · nowPAXG/USDT-P
+20.16%
3d avg:+28.56%
Entry Spread Now
+0.071%
Eaten by executionL 4,182.6 · S 4,185.58+$7.12 if it converges
24h range +0.05%…+0.31% · median +0.11%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0%/taker0.045%
Loading Funding History…
↗Total PnL
+$35.63
+0.36%
$Avg Daily PnL
+$18.70
+0.1870%
★Best Day
+$21.36
Oct 1
◎Open Interest
Backpack$1.36M
Hibachi$52.6K⚡Funding APR
+68.26%
annualized · funding only
⚠Execution Cost
−$20.47
entry + exit fees
⏱Payback
1.1d
to break even
◧24h Volume
Backpack$790.9KHibachi$101.8KLoading 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 (−$20.47 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.