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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~2.5d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+63.99%
3d Period Avg+56.99%
swing±26.85%
LONG Lighter · now
+10.52%
3d avg:+23.16%
SHORT Coinbase International · nowENA-PERP
+74.51%
3d avg:+80.15%
Entry Spread Now
+0.044%
In your favorL ask 0.2696 · S bid 0.2697+$4.45 at entry
24h range −0.15%…+0.44% · median +0.23%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
+$2.26
+0.02%
$Avg Daily PnL
+$15.60
+0.1560%
★Best Day
+$22.72
Sep 27
◎Open Interest
Lighter$4.85M
Coinbase International$1.05M⚡Funding APR
+56.95%
annualized · funding only
⚠Execution Cost
−$44.55
entry + exit fees
⏱Payback
2.9d
to break even
◧24h Volume
Lighter$6.81MCoinbase International$847.3KLoading 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 (−$44.55 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.