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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 ~107d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+1.17%
7d Period Avg−1.20%
swing±29.96%
LONG Phemex · now
+0.00%
7d avg:+11.94%
SHORT Pionex · nowXAU_USDT_PERP
+1.17%
7d avg:+10.74%
Entry Spread Now
−0.003%
NeutralL ask 4,268.25 · S bid 4,268.12
24h range −0.05%…+0.05% · median +0.01%
Long pays every4hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$36.72
−0.37%
$Avg Daily PnL
−$0.33
−0.0033%
★Best Day
+$4.71
Sep 23
◎Open Interest
Phemex$2.25M
Pionex$7.04M⚡Funding APR
−1.20%
annualized · funding only
⚠Execution Cost
−$34.41
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Phemex$33.2KPionex$1.25MLoading 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 (−$34.41 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.