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updated —XCU 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
+0.00%
3d Period Avg+24.10%
swing±43.92%
LONG Phemex · nowCOPPERUSDT
+0.00%
3d avg:+0.00%
SHORT Variational · nowCOPPER
+0.00%
3d avg:+24.10%
Entry Spread Now
−0.084%
Against youL 6.1670 · S 6.1619−$8.35 if it converges
24h range −0.19%…+0.07% · median −0.07%
Long pays every4hShort pays every4h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$3.33
+0.03%
$Avg Daily PnL
+$6.60
+0.0660%
★Best Day
+$10.17
Nov 11
◎Open Interest
Phemex$3.79M
Variational$1.89M⚡Funding APR
+24.09%
annualized · funding only
⚠Execution Cost
−$16.47
entry + exit fees
⏱Payback
2.5d
to break even
◧24h Volume
Phemex$75.6KVariational$371.0KLoading 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 (−$16.47 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.