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updated —BNB 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
−5.28%
7d Period Avg+6.21%
swing±9.64%
LONG Variational · now
+0.89%
7d avg:−0.18%
SHORT Lighter · now
−4.38%
7d avg:+6.03%
Entry Spread Now
+2.834%
In your favorL ask 615.0300 · S bid 632.4578+$283.37 at entry
24h range −0.17%…+0.42% · median +0.08%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$2.23
+0.02%
$Avg Daily PnL
+$1.73
+0.0173%
★Best Day
+$4.48
Nov 8
◎Open Interest
Variational$6.59M
Lighter$2.90M⚡Funding APR
+6.32%
annualized · funding only
⚠Execution Cost
−$9.89
entry + exit fees
⏱Payback
5.7d
to break even
◧24h Volume
Variational$7.04MLighter$3.50MLoading 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 (−$9.89 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.