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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 ~2.7d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+83.28%
7d Period Avg−12.01%
swing±31.35%
LONG trade[XYZ] · nowxyz:TLT
−77.75%
7d avg:+16.63%
SHORT Phoenix · now
+5.53%
7d avg:+4.62%
Entry Spread Now
+0.263%
Eaten by executionL 79.0020 · S 79.2100+$26.33 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
−$82.56
−0.83%
$Avg Daily PnL
−$3.15
−0.0315%
★Best Day
+$2.18
Nov 11
◎Open Interest
![trade[XYZ]](/icons/exchanges/hl-xyz.svg){kind=icon}
trade[XYZ]$6.86M
Phoenix$104.9K⚡Funding APR
−11.51%
annualized · funding only
⚠Execution Cost
−$60.49
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
trade[XYZ]$909.2KPhoenix—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 (−$60.49 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.