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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 ~0.8d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+305.94%
1d Period Avg+68.06%
swing±67.09%
LONG Backpack · nowZRO_USDC_PERP
−74.91%
1d avg:−0.10%
SHORT NADO · nowZRO-PERP
+231.03%
1d avg:+67.96%
Entry Spread Now
−0.174%
Against youL ask 2.0628 · S bid 2.0592−$17.45 at entry
24h range −2.63%…+1.19% · median +0.00%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.010%/taker0.035%
Loading Funding History…
↗Total PnL
−$48.01
−0.48%
$Avg Daily PnL
+$18.63
+0.1863%
★Best Day
+$16.28
Oct 3
◎Open Interest
Backpack$228.9K
NADO$1.04M⚡Funding APR
+68.01%
annualized · funding only
⚠Execution Cost
−$66.64
entry + exit fees
⏱Payback
3.6d
to break even
◧24h Volume
Backpack$1.39MNADO$554.9KLoading 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 (−$66.64 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.