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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−1.18%
3d Period Avg+4.17%
swing±4.91%
LONG Phemex · now
+16.29%
3d avg:+0.00%
SHORT Pionex · nowXAU_USDT_PERP
+15.11%
3d avg:+4.17%
Entry Spread Now
−0.074%
Against youL ask 4,242.89 · S bid 4,239.76−$7.38 at entry
24h range −0.08%…+0.05% · median +0.01%
Long pays every4hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$28.34
−0.28%
$Avg Daily PnL
+$1.14
+0.0114%
★Best Day
+$2.39
Sep 25
◎Open Interest
Phemex$2.24M
Pionex$7.13M⚡Funding APR
+4.16%
annualized · funding only
⚠Execution Cost
−$31.76
entry + exit fees
⏱Payback
27.9d
to break even
◧24h Volume
Phemex$56.6KPionex$2.14MLoading 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 (−$31.76 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.