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updated —ZAMA Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~29d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+2.74%
3d Period Avg+14.82%
swing±14.46%
LONG Binance Futures · now
+8.21%
3d avg:−3.86%
SHORT Phemex · now
+10.96%
3d avg:+10.96%
Entry Spread Now
+0.070%
Eaten by executionL 0.05740 · S 0.05744+$6.97 if it converges
24h range −0.91%…+0.87% · median −0.01%
Long pays every4hShort pays every4h
LONGmaker0.020%/taker0.050%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
−$8.75
−0.09%
$Avg Daily PnL
+$4.42
+0.0442%
★Best Day
+$6.74
Nov 12
◎Open Interest
Binance Futures$6.21M
Phemex$1.37M⚡Funding APR
+16.12%
annualized · funding only
⚠Execution Cost
−$22.00
entry + exit fees
⏱Payback
5.0d
to break even
◧24h Volume
Binance Futures$6.04MPhemex$474.2KLoading 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 (−$22.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.