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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 ~0.4d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+217.42%
7d Period Avg−3.69%
swing±45.16%
LONG Phemex · now
+0.00%
7d avg:+0.00%
SHORT Bybit · now
+217.42%
7d avg:−3.69%
Entry Spread Now
+0.091%
Eaten by executionL 32.9700 · S 33.0000+$9.10 if it converges
24h range −0.13%…+0.16% · median +0.00%
Long pays every8hShort pays every8h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.055%
Loading Funding History…
↗Total PnL
−$30.08
−0.30%
$Avg Daily PnL
−$1.01
−0.0101%
★Best Day
+$7.77
Sep 25
◎Open Interest
Phemex$1.05M
Bybit$2.88M⚡Funding APR
−3.69%
annualized · funding only
⚠Execution Cost
−$23.00
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Phemex$1.00MBybit$3.81MLoading 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.