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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+19.79%
swing±27.61%
LONG Phemex · now
+10.96%
7d avg:+10.96%
SHORT Variational · now
+10.96%
7d avg:+30.75%
Entry Spread Now
−0.131%
Against youL 0.5704 · S 0.5696−$13.15 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
+$25.94
+0.26%
$Avg Daily PnL
+$5.42
+0.0542%
★Best Day
+$12.77
Sep 22
◎Open Interest
Phemex$1.48M
Variational$1.97M⚡Funding APR
+19.78%
annualized · funding only
⚠Execution Cost
−$12.00
entry + exit fees
⏱Payback
2.2d
to break even
◧24h Volume
Phemex$2.58MVariational$3.97MLoading 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.