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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%
7d Period Avg−2.53%
swing±87.90%
LONG Variational · nowBZ
+0.00%
7d avg:−90.71%
SHORT Lighter · nowBRENTOIL-USDC
+3.51%
7d avg:−93.24%
Entry Spread Now
−0.138%
Against youL ask 93.4593 · S bid 93.3300−$13.83 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
−$12.23
−0.12%
$Avg Daily PnL
−$0.68
−0.0068%
★Best Day
+$11.60
Nov 12
◎Open Interest
Variational$5.63M
Lighter$3.22M⚡Funding APR
−2.49%
annualized · funding only
⚠Execution Cost
−$7.45
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Variational$1.64MLighter$5.06MLoading 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.