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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 ~5.6d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
7d Period Avg+3.04%
swing±2.48%
LONG Variational · now
+0.00%
7d avg:+0.25%
SHORT Lighter · now
+3.51%
7d avg:+3.29%
Entry Spread Now
−0.402%
Against youL ask 332.7180 · S bid 331.3800−$40.21 at entry
24h range −0.21%…+0.46% · median −0.03%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$0.41
+0.00%
$Avg Daily PnL
+$0.83
+0.0083%
★Best Day
+$0.96
Sep 25
◎Open Interest
Variational$2.31M
Lighter$911.5K⚡Funding APR
+3.05%
annualized · funding only
⚠Execution Cost
−$5.43
entry + exit fees
⏱Payback
6.5d
to break even
◧24h Volume
Variational$1.90MLighter$2.87MLoading 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 (−$5.43 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.