Funding Rate Arbitrage Calculator: Delta-Neutral Net Profit
A funding rate arbitrage calculator estimates what a delta-neutral trade earns when you go long the perpetual with the lower funding rate and short the one with the higher rate. Enter both rates, their intervals and your fees.
- Net funding
- $63
- Fees (4 fills)
- −$20
- Net profit
- $43
- Net APR on both legs
- 11.21%
How it is calculated
- Long leg: pays funding when its rate is positive, receives it when negative
- Short leg: receives funding when its rate is positive
- Net funding = short leg funding + long leg funding
- Fees = 4 fills × position size × taker fee (open and close both legs)
- Net APR = net profit ÷ total capital (both legs) × 365 ÷ days
Frequently asked questions
- Why is capital counted twice?
- Each leg needs its own margin on its own exchange, so the return is measured on the capital of both legs combined.
- Can funding rate arbitrage lose money?
- Yes. If the funding difference shrinks or flips, if fees are high, or if one leg is liquidated in a sharp move, the trade can end with a loss.