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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 ~53d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+2.63%
3d Period Avg+4.13%
swing±10.26%
LONG Lighter · now
+10.52%
3d avg:+14.90%
SHORT Coinbase International · nowAAVE-PERP
+13.15%
3d avg:+19.03%
Entry Spread Now
−0.176%
Against youL ask 154.1020 · S bid 153.8300−$17.65 at entry
24h range −0.18%…+0.09% · median −0.06%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
−$34.81
−0.35%
$Avg Daily PnL
+$1.13
+0.0113%
★Best Day
+$1.78
Sep 25
◎Open Interest
Lighter$4.97M
Coinbase International$789.3K⚡Funding APR
+4.12%
annualized · funding only
⚠Execution Cost
−$38.20
entry + exit fees
⏱Payback
1.1mo
to break even
◧24h Volume
Lighter$858.9KCoinbase International$1.37MLoading 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 (−$38.20 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.