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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+13.23%
swing±26.89%
LONG Phemex · now
+10.96%
3d avg:+10.96%
SHORT Variational · now
+10.96%
3d avg:+24.19%
Entry Spread Now
−0.052%
Eaten by executionL 0.5750 · S 0.5747−$5.22 if it converges
24h range −0.40%…+0.76% · median −0.02%
Long pays every4hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$1.13
−0.01%
$Avg Daily PnL
+$3.62
+0.0362%
★Best Day
+$5.58
Sep 25
◎Open Interest
Phemex$1.54M
Variational$1.92M⚡Funding APR
+13.22%
annualized · funding only
⚠Execution Cost
−$12.00
entry + exit fees
⏱Payback
3.3d
to break even
◧24h Volume
Phemex$2.64MVariational$4.04MLoading 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.