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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 ~6.4d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+6.80%
3d Period Avg+31.97%
swing±24.52%
LONG Phemex · nowu1000PEPEUSDT
+3.72%
3d avg:+4.47%
SHORT Lighter · now
+10.52%
3d avg:+36.44%
Entry Spread Now
−0.021%
Eaten by executionL 0.004347 · S 0.004346−$2.07 if it converges
24h range −0.13%…+0.28% · median +0.10%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$12.56
+0.13%
$Avg Daily PnL
+$8.19
+0.0819%
★Best Day
+$11.26
Sep 26
◎Open Interest
Phemex$2.20M
Lighter$1.32M⚡Funding APR
+29.88%
annualized · funding only
⚠Execution Cost
−$12.00
entry + exit fees
⏱Payback
1.5d
to break even
◧24h Volume
Phemex$4.25MLighter$384.6KLoading 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 (−$12.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.