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updated —TRX Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~4.0d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+22.00%
3d Period Avg+56.51%
swing±96.44%
LONG Backpack · nowTRX_USDC_PERP
−11.07%
3d avg:−72.64%
SHORT Phoenix · now
+10.94%
3d avg:−16.13%
Entry Spread Now
+0.222%
In your favorL 0.3199 · S 0.3206+$22.19 if it converges
24h range −0.42%…+0.54% · median +0.11%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.005%/taker0.035%
Loading Funding History…
↗Total PnL
+$8.30
+0.08%
$Avg Daily PnL
+$10.78
+0.1078%
★Best Day
+$22.13
Oct 31
◎Open Interest
Backpack$242.9K
Phoenix$32.2K⚡Funding APR
+39.35%
annualized · funding only
⚠Execution Cost
−$24.04
entry + exit fees
⏱Payback
2.2d
to break even
◧24h Volume
Backpack$33.9KPhoenix—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 (−$24.04 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.