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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−0.44%
7d Period Avg+80.69%
swing±72.97%
LONG Variational · now
+10.96%
7d avg:+42.50%
SHORT Lighter · now
+10.52%
7d avg:+123.19%
Entry Spread Now
−0.173%
Against youL 0.1679 · S 0.1677−$17.27 if it converges
24h range −1.23%…+0.67% · median −0.02%
Long pays every4hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Limited funding history — chart clipped to available data
- Lighter (Short): data starts Sep 26, 2026 (2d available out of 7d requested)
KPIs (Total PnL, APR, Win Rate) calculated only over the available data range.
Sparse settlements: long 100%, short 24% of expected. KPIs may be noisy.
Loading Funding History…
↗Total PnL
−$32.84
−0.33%
$Avg Daily PnL
−$4.69
−0.0469%
★Best Day
+$20.49
Sep 27
◎Open Interest
Variational$1.46M
Lighter$1.51M⚡Funding APR
−17.12%
annualized · funding only
⚠Execution Cost
+$0.00
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Variational$801.0KLighter$736.8KLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (+$0.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.