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updated —TLT Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~3.7d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+59.24%
3d Period Avg−6.02%
swing±15.87%
LONG trade[XYZ] · nowxyz:TLT
−53.70%
3d avg:+11.12%
SHORT Phoenix · now
+5.53%
3d avg:+5.10%
Entry Spread Now
+0.109%
Eaten by executionL 79.1240 · S 79.2100+$10.87 if it converges
24h range −0.37%…+0.45% · median −0.03%
Long pays every1hShort pays every1h
LONGmaker0.030%/taker0.090%SHORTmaker0.005%/taker0.035%
Loading Funding History…
↗Total PnL
−$65.14
−0.65%
$Avg Daily PnL
−$1.57
−0.0157%
★Best Day
+$0.80
Nov 11
◎Open Interest
![trade[XYZ]](/icons/exchanges/hl-xyz.svg){kind=icon}
trade[XYZ]$6.86M
Phoenix$104.9K⚡Funding APR
−5.73%
annualized · funding only
⚠Execution Cost
−$60.43
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
trade[XYZ]$910.2KPhoenix—Loading 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 (−$60.43 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.