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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
−71.00%
7d Period Avg+10.53%
swing±11.27%
LONG Coinbase International · nowAMZN-PERP
+0.88%
7d avg:+5.71%
SHORT Lighter · now
−70.13%
7d avg:+16.24%
Entry Spread Now
−0.023%
Against youL ask 249.0600 · S bid 249.0030−$2.29 at entry
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
+$4.80
+0.05%
$Avg Daily PnL
+$2.88
+0.0288%
★Best Day
+$5.85
Sep 21
◎Open Interest
Coinbase International$839.4K
Lighter$698.0K⚡Funding APR
+10.53%
annualized · funding only
⚠Execution Cost
−$15.39
entry + exit fees
⏱Payback
5.3d
to break even
◧24h Volume
Coinbase International$26.3KLighter$726.4KLoading 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 (−$15.39 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.