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updated —XAU 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
−9.51%
7d Period Avg−4.73%
swing±27.02%
LONG Phemex · now
+12.64%
7d avg:+10.98%
SHORT Pionex · nowXAU_USDT_PERP
+3.13%
7d avg:+6.25%
Entry Spread Now
−0.049%
Against youL ask 3,888.6 · S bid 3,886.71−$4.86 at entry
24h range −0.13%…+0.07% · median −0.03%
Long pays every4hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$33.95
−0.34%
$Avg Daily PnL
−$1.30
−0.0130%
★Best Day
+$2.60
Nov 11
◎Open Interest
Phemex$3.69M
Pionex$6.35M⚡Funding APR
−4.73%
annualized · funding only
⚠Execution Cost
−$24.87
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Phemex$403.6KPionex$4.93MLoading 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 (−$24.87 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.