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updated —1000PEPE Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~0.8d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+47.02%
1d Period Avg+12.16%
swing±14.87%
LONG Lighter · now
+10.52%
1d avg:+10.52%
SHORT Backpack · nowkPEPE_USDC_PERP
+57.54%
1d avg:+22.68%
Entry Spread Now
+0.030%
Eaten by executionL 0.004954 · S 0.004955+$3.03 if it converges
24h range −0.55%…+0.14% · median −0.06%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$6.67
−0.07%
$Avg Daily PnL
+$3.33
+0.0333%
★Best Day
+$2.54
Nov 1
◎Open Interest
Lighter$757.0K
Backpack$156.6K⚡Funding APR
+12.15%
annualized · funding only
⚠Execution Cost
−$10.00
entry + exit fees
⏱Payback
3.0d
to break even
◧24h Volume
Lighter$529.7KBackpack$136.3KLoading 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 (−$10.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.