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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 ~2.8d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+18.41%
3d Period Avg+13.71%
swing±6.91%
LONG Lighter · now
+3.51%
3d avg:+3.01%
SHORT Coinbase International · nowAAPL-PERP
+21.92%
3d avg:+16.72%
Entry Spread Now
+0.038%
In your favorL ask 340.0690 · S bid 340.2000+$3.85 at entry
24h range −0.04%…+0.12% · median +0.02%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
−$2.71
−0.03%
$Avg Daily PnL
+$3.75
+0.0375%
★Best Day
+$4.32
Sep 26
◎Open Interest
Lighter$948.9K
Coinbase International$618.0K⚡Funding APR
+13.70%
annualized · funding only
⚠Execution Cost
−$13.97
entry + exit fees
⏱Payback
3.7d
to break even
◧24h Volume
Lighter$2.36MCoinbase International$3.1KLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$13.97 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.