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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 ~7.7d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+10.55%
7d Period Avg+10.97%
swing±9.32%
LONG Variational · now
−0.03%
7d avg:+1.46%
SHORT Lighter · now
+10.52%
7d avg:+12.43%
Entry Spread Now
−0.672%
Against youL ask 166.2720 · S bid 165.1540−$67.24 at entry
24h range −0.24%…+0.68% · median +0.15%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$1.21
−0.01%
$Avg Daily PnL
+$3.00
+0.0300%
★Best Day
+$5.13
Sep 25
◎Open Interest
Variational$5.85M
Lighter$4.62M⚡Funding APR
+10.96%
annualized · funding only
⚠Execution Cost
−$22.22
entry + exit fees
⏱Payback
7.4d
to break even
◧24h Volume
Variational$2.44MLighter$868.8KLoading 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 (−$22.22 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.