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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 ~23d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+1.85%
3d Period Avg−4.75%
swing±41.47%
LONG Pionex · nowCRCLX_USDT_PERP
+1.65%
3d avg:+11.54%
SHORT Lighter · now
+3.51%
3d avg:+6.79%
Entry Spread Now
−0.084%
Against youL 60.5100 · S 60.4590−$8.43 if it converges
24h range −0.39%…+0.25% · median −0.10%
Long pays every8hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$14.16
−0.14%
$Avg Daily PnL
−$0.84
−0.0084%
★Best Day
+$2.24
Nov 12
◎Open Interest
Pionex$1.61M
Lighter$1.26M⚡Funding APR
−3.05%
annualized · funding only
⚠Execution Cost
−$11.65
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Pionex$1.06MLighter$4.62MLoading 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 (−$11.65 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.