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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 ~7.7d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+10.49%
7d Period Avg+7.47%
swing±9.56%
LONG Binance Futures · now
+0.47%
7d avg:+3.49%
SHORT Phemex · now
+10.96%
7d avg:+10.96%
Entry Spread Now
−0.042%
Eaten by executionL 2.6238 · S 2.6227−$4.19 if it converges
24h range −0.98%…+0.90% · median +0.02%
Long pays every8hShort pays every8h
LONGmaker0.020%/taker0.050%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
−$18.46
−0.18%
$Avg Daily PnL
+$0.51
+0.0051%
★Best Day
+$2.10
Sep 24
◎Open Interest
Binance Futures$22.92M
Phemex$1.14M⚡Funding APR
+1.85%
annualized · funding only
⚠Execution Cost
−$22.00
entry + exit fees
⏱Payback
1.4mo
to break even
◧24h Volume
Binance Futures$27.17MPhemex$1.40MLoading 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 (−$22.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.