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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
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−5.25%
7d Period Avg+5.06%
swing±12.09%
LONG Phemex · nowSPCXUSDT
+5.48%
7d avg:+5.48%
SHORT Pionex · nowSPCX_USDT_PERP
+0.23%
7d avg:+10.54%
Entry Spread Now
−0.003%
NeutralL 149.5500 · S 149.5455
24h range −0.13%…+0.04% · median −0.04%
Long pays every8hShort pays every8h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$12.98
−0.13%
$Avg Daily PnL
+$1.38
+0.0138%
★Best Day
+$5.59
Sep 24
◎Open Interest
Phemex$1.55M
Pionex$4.84M⚡Funding APR
+5.06%
annualized · funding only
⚠Execution Cost
−$22.67
entry + exit fees
⏱Payback
16.4d
to break even
◧24h Volume
Phemex$510.9KPionex$640.8KLoading 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 (−$22.67 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.