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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 ~20d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+2.63%
3d Period Avg+4.34%
swing±11.24%
LONG Coinbase International · nowAMZN-PERP
+0.88%
3d avg:+3.43%
SHORT Lighter · now
+3.51%
3d avg:+7.77%
Entry Spread Now
−0.001%
NeutralL ask 249.3600 · S bid 249.3570
24h range −0.05%…+0.11% · median +0.03%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.040%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$10.85
−0.11%
$Avg Daily PnL
+$1.19
+0.0119%
★Best Day
+$2.76
Sep 25
◎Open Interest
Coinbase International$851.8K
Lighter$678.2K⚡Funding APR
+4.33%
annualized · funding only
⚠Execution Cost
−$14.41
entry + exit fees
⏱Payback
12.1d
to break even
◧24h Volume
Coinbase International$27.3KLighter$852.7KLoading 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 (−$14.41 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.