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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 ~0.7d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+145.12%
3d Period Avg+46.08%
swing±46.66%
LONG Backpack · nowPENGU_USDC_PERP
−124.96%
3d avg:−16.24%
SHORT N1 · now
+20.16%
3d avg:+29.84%
Entry Spread Now
+0.188%
In your favorL 0.009599 · S 0.009617+$18.75 if it converges
24h range −0.36%…+1.44% · median +0.24%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.010%/taker0.050%
Loading Funding History…
↗Total PnL
+$8.19
+0.08%
$Avg Daily PnL
+$9.46
+0.0946%
★Best Day
+$26.92
Sep 23
◎Open Interest
Backpack$331.8K
N1$3.3K⚡Funding APR
+34.54%
annualized · funding only
⚠Execution Cost
−$29.66
entry + exit fees
⏱Payback
3.1d
to break even
◧24h Volume
Backpack$547.9KN1$3.5KLoading 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 (−$29.66 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.