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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 ~0.9d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+273.36%
3d Period Avg+24.34%
swing±74.60%
LONG Backpack · nowZRO_USDC_PERP
+10.96%
3d avg:+22.04%
SHORT NADO · nowZRO-PERP
+284.32%
3d avg:+46.38%
Entry Spread Now
+0.352%
In your favorL ask 2.0707 · S bid 2.0780+$35.25 at entry
24h range −2.63%…+1.19% · median +0.01%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0.010%/taker0.035%
Loading Funding History…
↗Total PnL
−$50.64
−0.51%
$Avg Daily PnL
+$6.66
+0.0666%
★Best Day
+$22.50
Oct 3
◎Open Interest
Backpack$253.3K
NADO$1.06M⚡Funding APR
+24.32%
annualized · funding only
⚠Execution Cost
−$70.63
entry + exit fees
⏱Payback
10.6d
to break even
◧24h Volume
Backpack$1.29MNADO$554.6KLoading 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 (−$70.63 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.