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updated —CRCL Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~13d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
3d Period Avg+5.51%
swing±38.05%
LONG Aster · now
+0.00%
3d avg:+3.46%
SHORT Lighter Robinhood · nowCRCL-USDG
+3.51%
3d avg:+8.97%
Entry Spread Now
+0.032%
Eaten by executionL 60.5469 · S 60.5660+$3.16 if it converges
24h range −0.98%…+0.24% · median −0.06%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.040%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$6.62
−0.07%
$Avg Daily PnL
+$2.00
+0.0200%
★Best Day
+$4.08
Nov 12
◎Open Interest
Aster$1.05M
Lighter Robinhood$1.71M⚡Funding APR
+7.30%
annualized · funding only
⚠Execution Cost
−$12.62
entry + exit fees
⏱Payback
6.3d
to break even
◧24h Volume
Aster$484.9KLighter Robinhood$6.40MLoading 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 (−$12.62 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.