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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~0.8d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+104.43%
1d Period Avg+104.59%
swing±19.62%
LONG Backpack · nowTRX_USDC_PERP
−103.96%
1d avg:−69.92%
SHORT Hotcoin · now
+0.46%
1d avg:+34.67%
Entry Spread Now
+0.039%
Eaten by executionL 0.3347 · S 0.3348+$3.88 if it converges
24h range −0.13%…+0.14% · median +0.04%
Long pays every1hShort pays every8h
LONGmaker0.020%/taker0.050%SHORTmaker0.020%/taker0.060%
Loading Funding History…
↗Total PnL
+$3.78
+0.04%
$Avg Daily PnL
+$27.27
+0.2727%
★Best Day
+$17.52
Oct 4
◎Open Interest
Backpack$82.8K
Hotcoin$6.67M⚡Funding APR
+99.53%
annualized · funding only
⚠Execution Cost
−$23.49
entry + exit fees
⏱Payback
20.6h
to break even
◧24h Volume
Backpack$50.8KHotcoin$11.87MLoading 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 (−$23.49 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.