Binance "Smart Arbitrage" Test:
Invested 2500U, lasted 21 days 8 hours 32 minutes.
Total value at termination 2512.26U, of which funding rate earned 14.6U, the intermediate difference of 2.34U should be the transaction fee paid.
Calculation formula: 12.16 / 2500 / 21 * 365 = 0.08454095238, equivalent to APR 8.45%.
Because an investment of 2500U or less can earn an additional 10% APR reward, the actual APR this time is 18.45%.
This yield may seem insignificant to OGs, but it's quite good for more laid-back friends.