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updated 9:03:35 PMFunding Arbitrage Backtester
Size$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~0.2d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+240.12%
3d Period Avg+248.52%
LONG Backpack · nowSTABLE_USDC_PERP
−321.29%
3d avg:−286.07%
SHORT Variational · now
−81.17%
3d avg:−37.55%
Entry Spread Now
−0.016%
NeutralL 0.03059 · S 0.03058
24h range −0.66%…+0.37% · median +0.04%
Long pays every1hShort pays every4h
LONGmaker0.020%/taker0.050%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$182.24
+1.82%
$Avg Daily PnL
+$48.06
+0.4806%
★Best Day
+$72.04
Aug 15
◎Open Interest
Backpack$37.0K
Variational$332.4K⚡Funding APR
+175.42%
annualized · funding only
⚠Execution Cost
−$10.00
entry + exit fees
⏱Payback
5.0h
to break even
◧24h Volume
Backpack$23.3KVariational$83.1KLoading 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 (−$10.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.