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updated —CRCL 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
−2.02%
7d Period Avg+9.32%
swing±62.16%
LONG Ondo · nowCRCL-USD.P
+5.52%
7d avg:−3.63%
SHORT Lighter · now
+3.51%
7d avg:+5.69%
Entry Spread Now
+0.052%
In your favorL 60.4576 · S 60.4890+$5.19 if it converges
24h range −0.42%…+0.78% · median +0.06%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.035%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$4.14
+0.04%
$Avg Daily PnL
+$2.06
+0.0206%
★Best Day
+$3.95
Nov 14
◎Open Interest
Ondo$1.44M
Lighter$1.26M⚡Funding APR
+7.53%
annualized · funding only
⚠Execution Cost
−$10.31
entry + exit fees
⏱Payback
5.0d
to break even
◧24h Volume
Ondo$3.20MLighter$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 (−$10.31 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.