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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 ~0.5d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+132.40%
30d Period Avg+25.67%
swing±43.01%
LONG Phoenix · now
+0.23%
30d avg:−8.29%
SHORT dYdX · now
+132.63%
30d avg:+17.38%
Entry Spread Now
−0.411%
Against youL 1.9190 · S 1.9111−$41.06 if it converges
24h range −1.75%…+2.20% · median −0.19%
Long pays every1hShort pays every1h
LONGmaker0.005%/taker0.035%SHORTmaker0.010%/taker0.050%
Loading Funding History…
↗Total PnL
+$188.51
+1.89%
$Avg Daily PnL
+$6.85
+0.0685%
★Best Day
+$33.76
Sep 25
◎Open Interest
Phoenix$42.8K
dYdX$23.0K⚡Funding APR
+25.00%
annualized · funding only
⚠Execution Cost
−$17.00
entry + exit fees
⏱Payback
2.5d
to break even
◧24h Volume
Phoenix—dYdX$600Loading 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 (−$17.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.