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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%
7d Period Avg+35.88%
swing±35.48%
LONG Phemex · now
+10.96%
7d avg:+10.96%
SHORT Bybit · now
+10.96%
7d avg:+46.84%
Entry Spread Now
−0.123%
Against youL 0.5704 · S 0.5697−$12.27 if it converges
24h range −0.17%…+0.31% · median −0.03%
Long pays every4hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.055%
Loading Funding History…
↗Total PnL
+$45.76
+0.46%
$Avg Daily PnL
+$9.82
+0.0982%
★Best Day
+$14.93
Sep 21
◎Open Interest
Phemex$1.48M
Bybit$15.50M⚡Funding APR
+35.85%
annualized · funding only
⚠Execution Cost
−$23.00
entry + exit fees
⏱Payback
2.3d
to break even
◧24h Volume
Phemex$2.58MBybit$24.27MLoading 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.