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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
−7.72%
7d Period Avg+17.15%
swing±10.52%
LONG Variational · now
−4.55%
7d avg:−10.78%
SHORT Lighter · now
−12.27%
7d avg:+6.37%
Entry Spread Now
−0.119%
Against youL ask 10.8118 · S bid 10.7989−$11.93 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
+$20.14
+0.20%
$Avg Daily PnL
+$4.70
+0.0470%
★Best Day
+$6.92
Sep 23
◎Open Interest
Variational$2.84M
Lighter$1.17M⚡Funding APR
+17.14%
annualized · funding only
⚠Execution Cost
−$12.73
entry + exit fees
⏱Payback
2.7d
to break even
◧24h Volume
Variational$2.35MLighter$688.0KLoading 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 (−$12.73 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.