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updated —BRENT Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~7.7d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
3d Period Avg+24.32%
swing±46.37%
LONG Variational · nowBZ
+0.00%
3d avg:−84.18%
SHORT Lighter · nowBRENTOIL-USDC
+3.51%
3d avg:−59.86%
Entry Spread Now
−0.139%
Against youL ask 93.4602 · S bid 93.3300−$13.93 at entry
24h range −0.18%…+0.20% · median +0.06%
Long pays every4hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$11.03
+0.11%
$Avg Daily PnL
+$6.16
+0.0616%
★Best Day
+$11.60
Nov 12
◎Open Interest
Variational$5.63M
Lighter$3.22M⚡Funding APR
+22.49%
annualized · funding only
⚠Execution Cost
−$7.45
entry + exit fees
⏱Payback
1.2d
to break even
◧24h Volume
Variational$1.62MLighter$5.07MLoading 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 (−$7.45 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.