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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 ~28d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.79%
3d Period Avg+1.75%
swing±4.73%
LONG Phemex · now
+0.00%
3d avg:+0.00%
SHORT Variational · now
+3.79%
3d avg:+1.75%
Entry Spread Now
−0.146%
Against youL ask 63.5900 · S bid 63.4971−$14.61 at entry
24h range −0.18%…+0.04% · median −0.04%
Long pays every4hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$27.40
−0.27%
$Avg Daily PnL
+$0.48
+0.0048%
★Best Day
+$1.27
Sep 25
◎Open Interest
Phemex$1.46M
Variational$5.77M⚡Funding APR
+1.75%
annualized · funding only
⚠Execution Cost
−$28.84
entry + exit fees
⏱Payback
2.0mo
to break even
◧24h Volume
Phemex$222.1KVariational$7.32MLoading 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 (−$28.84 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.