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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 ~1.8d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+59.18%
30d Period Avg+3.78%
swing±14.31%
LONG Bybit · now
−13.94%
30d avg:+5.70%
SHORT Backpack · nowUNI_USDC_PERP
+45.25%
30d avg:+9.48%
Entry Spread Now
+0.206%
In your favorL ask 9.2530 · S bid 9.2721+$20.64 at entry
24h range −0.69%…+1.76% · median +0.13%
Long pays every8hShort pays every1h
LONGmaker0.020%/taker0.055%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
+$1.54
+0.02%
$Avg Daily PnL
+$1.03
+0.0103%
★Best Day
+$7.76
Sep 23
◎Open Interest
Bybit$105.94M
Backpack$1.60M⚡Funding APR
+3.77%
annualized · funding only
⚠Execution Cost
−$29.48
entry + exit fees
⏱Payback
28.5d
to break even
◧24h Volume
Bybit$185.10MBackpack$3.78MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$29.48 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.