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updated —BRENT Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
ⓘSlippage estimate may be inaccurate (thin orderbook or partial fill)
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−3.51%
7d Period Avg+89.56%
swing±116.01%
LONG Lighter · nowBRENTOIL-USDC
+3.51%
7d avg:−89.56%
SHORT Phemex · nowXBRUSDT
+0.00%
7d avg:+0.00%
Entry Spread Now
+0.396%
In your favorL ask 93.3500 · S bid 93.7200+$39.64 at entry
24h range −0.16%…+0.46% · median +0.27%
Long pays every1hShort pays every4h
LONGmaker0%/taker0%SHORTmaker0.010%/taker0.060%
Loading Funding History…
↗Total PnL
+$23.38
+0.23%
$Avg Daily PnL
+$25.37
+0.2537%
★Best Day
+$81.01
Nov 9
◎Open Interest
Lighter$3.22M
Phemex$1.96M⚡Funding APR
+92.60%
annualized · funding only
⚠Execution Cost
−$154.21
entry + exit fees
⏱Payback
6.1d
to break even
◧24h Volume
Lighter$5.07MPhemex$46.4KLoading 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 (−$154.21 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.