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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+14.16%
swing±47.54%
LONG Ondo · nowCRCL-USD.P
+5.52%
7d avg:−3.63%
SHORT Lighter Robinhood · nowCRCL-USDG
+3.51%
7d avg:+10.53%
Entry Spread Now
+0.109%
In your favorL ask 60.4600 · S bid 60.5260+$10.92 at entry
24h range −0.10%…+0.43% · median +0.09%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.035%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$8.81
+0.09%
$Avg Daily PnL
+$3.36
+0.0336%
★Best Day
+$6.39
Nov 9
◎Open Interest
Ondo$1.44M
Lighter Robinhood$1.72M⚡Funding APR
+12.25%
annualized · funding only
⚠Execution Cost
−$14.69
entry + exit fees
⏱Payback
4.4d
to break even
◧24h Volume
Ondo$3.20MLighter Robinhood$6.57MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$14.69 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.