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updated —TAO Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~12d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+9.61%
3d Period Avg+8.01%
swing±12.98%
LONG Phemex · now
+1.35%
3d avg:+1.13%
SHORT Bybit · now
+10.96%
3d avg:+9.14%
Entry Spread Now
−0.039%
Eaten by executionL 207.5400 · S 207.4600−$3.85 if it converges
24h range −0.58%…+0.35% · median −0.01%
Long pays every4hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.055%
Loading Funding History…
↗Total PnL
−$24.77
−0.25%
$Avg Daily PnL
+$2.19
+0.0219%
★Best Day
+$3.97
Nov 12
◎Open Interest
Phemex$2.32M
Bybit$28.80M⚡Funding APR
+8.01%
annualized · funding only
⚠Execution Cost
−$31.35
entry + exit fees
⏱Payback
14.3d
to break even
◧24h Volume
Phemex$7.44MBybit$29.17MLoading 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 (−$31.35 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.