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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 ~2.9d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+18.41%
3d Period Avg+13.21%
swing±5.60%
LONG Lighter Robinhood · nowAAPL-USDG
+3.51%
3d avg:+3.51%
SHORT Coinbase International · nowAAPL-PERP
+21.92%
3d avg:+16.72%
Entry Spread Now
−0.041%
Against youL ask 340.3400 · S bid 340.2000−$4.11 at entry
24h range −0.09%…+0.05% · median −0.04%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
−$3.68
−0.04%
$Avg Daily PnL
+$3.62
+0.0362%
★Best Day
+$4.29
Sep 26
◎Open Interest
Lighter Robinhood$2.23M
Coinbase International$618.0K⚡Funding APR
+13.20%
annualized · funding only
⚠Execution Cost
−$14.53
entry + exit fees
⏱Payback
4.0d
to break even
◧24h Volume
Lighter Robinhood$5.50MCoinbase 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 (−$14.53 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.