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updated —CRCL Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
3d Period Avg+2.97%
swing±34.80%
LONG Variational · now
+0.00%
3d avg:+3.82%
SHORT Lighter · now
+3.51%
3d avg:+6.79%
Entry Spread Now
−0.003%
NeutralL 60.4699 · S 60.4680
24h range −0.56%…+0.99% · median −0.03%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$2.72
+0.03%
$Avg Daily PnL
+$0.91
+0.0091%
★Best Day
+$3.88
Nov 12
◎Open Interest
Variational$1.20M
Lighter$1.26M⚡Funding APR
+3.31%
annualized · funding only
⚠Execution Cost
+$0.00
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Variational$649.3KLighter$4.61MLoading 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.