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updated —XCU Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~24d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+5.48%
3d Period Avg+36.65%
swing±49.00%
LONG Phemex · nowCOPPERUSDT
+0.00%
3d avg:+0.00%
SHORT trade[XYZ] · nowxyz:COPPER
+5.48%
3d avg:+36.65%
Entry Spread Now
−0.154%
Eaten by executionL 6.1660 · S 6.1565−$15.41 if it converges
24h range −0.29%…−0.08% · median −0.18%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.030%/taker0.090%
Loading Funding History…
↗Total PnL
−$5.18
−0.05%
$Avg Daily PnL
+$10.12
+0.1012%
★Best Day
+$16.24
Nov 11
◎Open Interest
Phemex$3.79M![trade[XYZ]](/icons/exchanges/hl-xyz.svg){kind=icon}
trade[XYZ]$7.79M⚡Funding APR
+36.95%
annualized · funding only
⚠Execution Cost
−$35.55
entry + exit fees
⏱Payback
3.5d
to break even
◧24h Volume
Phemex$75.7Ktrade[XYZ]$3.12MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (−$35.55 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.