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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 ~11d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+4.96%
3d Period Avg+13.56%
swing±7.19%
LONG Variational · now
−8.47%
3d avg:−8.14%
SHORT Lighter · now
−3.51%
3d avg:+5.42%
Entry Spread Now
−0.317%
Against youL ask 10.9070 · S bid 10.8724−$31.72 at entry
24h range −0.24%…+0.69% · median +0.00%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$2.98
−0.03%
$Avg Daily PnL
+$3.78
+0.0378%
★Best Day
+$3.84
Sep 27
◎Open Interest
Variational$2.88M
Lighter$1.18M⚡Funding APR
+13.80%
annualized · funding only
⚠Execution Cost
−$14.32
entry + exit fees
⏱Payback
3.8d
to break even
◧24h Volume
Variational$2.26MLighter$702.5KLoading 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 (−$14.32 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.