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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 ~1.5d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+53.62%
30d Period Avg+17.80%
swing±37.17%
LONG Backpack · nowZRO_USDC_PERP
−39.10%
30d avg:+1.74%
SHORT BloFin · now
+14.52%
30d avg:+19.54%
Entry Spread Now
+0.013%
NeutralL 1.4927 · S 1.4929
24h range −1.02%…+1.29% · median −0.06%
Long pays every1hShort pays every4h
LONGmaker0.020%/taker0.050%SHORTmaker0.020%/taker0.060%
Loading Funding History…
↗Total PnL
+$128.56
+1.29%
$Avg Daily PnL
+$5.02
+0.0502%
★Best Day
+$16.28
Sep 5
◎Open Interest
Backpack$124.5K
BloFin$1.53M⚡Funding APR
+18.32%
annualized · funding only
⚠Execution Cost
−$22.00
entry + exit fees
⏱Payback
4.4d
to break even
◧24h Volume
Backpack$711.0KBloFin$540.3KLoading 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.