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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 ~6.1d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+13.22%
7d Period Avg+35.21%
swing±18.93%
LONG Phemex · now
+10.96%
7d avg:+10.96%
SHORT Binance Futures · now
+24.18%
7d avg:+46.17%
Entry Spread Now
+0.375%
In your favorL 0.5704 · S 0.5725+$37.54 if it converges
24h range −0.96%…+0.79% · median +0.03%
Long pays every4hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
+$45.48
+0.45%
$Avg Daily PnL
+$9.64
+0.0964%
★Best Day
+$13.03
Sep 23
◎Open Interest
Phemex$1.48M
Binance Futures$40.77M⚡Funding APR
+35.18%
annualized · funding only
⚠Execution Cost
−$22.00
entry + exit fees
⏱Payback
2.3d
to break even
◧24h Volume
Phemex$2.58MBinance Futures$54.77MLoading 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.