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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−2.63%
7d Period Avg+13.23%
swing±15.62%
LONG Lighter · now
+10.52%
7d avg:+13.78%
SHORT Coinbase International · nowAAVE-PERP
+7.89%
7d avg:+27.01%
Entry Spread Now
−0.138%
Against youL ask 154.0520 · S bid 153.8400−$13.76 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
−$10.19
−0.10%
$Avg Daily PnL
+$3.62
+0.0362%
★Best Day
+$8.91
Sep 24
◎Open Interest
Lighter$4.98M
Coinbase International$803.8K⚡Funding APR
+13.22%
annualized · funding only
⚠Execution Cost
−$35.55
entry + exit fees
⏱Payback
9.8d
to break even
◧24h Volume
Lighter$834.2KCoinbase International$1.33MLoading 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 (−$35.55 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.