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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.00%
3d Period Avg+27.77%
swing±32.64%
LONG Phemex · now
+10.96%
3d avg:+10.96%
SHORT Bybit · now
+10.96%
3d avg:+38.73%
Entry Spread Now
−0.035%
Eaten by executionL 0.5750 · S 0.5748−$3.48 if it converges
24h range −0.35%…+0.31% · median −0.03%
Long pays every4hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.055%
Loading Funding History…
↗Total PnL
−$0.19
+0.00%
$Avg Daily PnL
+$7.60
+0.0760%
★Best Day
+$12.21
Sep 26
◎Open Interest
Phemex$1.54M
Bybit$15.66M⚡Funding APR
+27.75%
annualized · funding only
⚠Execution Cost
−$23.00
entry + exit fees
⏱Payback
3.0d
to break even
◧24h Volume
Phemex$2.64MBybit$24.30MLoading 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.