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updated —BTC 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
−5.56%
3d Period Avg+2.98%
swing±4.32%
LONG Pionex · nowBTC_USDT_PERP
+5.56%
3d avg:+6.64%
SHORT Lighter · now
+0.00%
3d avg:+9.62%
Entry Spread Now
+1.919%
In your favorL ask 67,281.9 · S bid 68,573.4+$191.95 at entry
24h range −0.25%…+0.38% · median +0.00%
Long pays every8hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$7.73
−0.08%
$Avg Daily PnL
+$0.85
+0.0085%
★Best Day
+$1.18
Nov 13
◎Open Interest
Pionex$121.98M
Lighter$127.66M⚡Funding APR
+3.10%
annualized · funding only
⚠Execution Cost
−$10.28
entry + exit fees
⏱Payback
12.1d
to break even
◧24h Volume
Pionex$5.54BLighter$1.07BLoading 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 (−$10.28 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.