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updated —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
−0.44%
3d Period Avg+11.74%
swing±20.27%
LONG Variational · now
+10.96%
3d avg:+10.96%
SHORT Lighter · now
+10.52%
3d avg:+22.70%
Entry Spread Now
+0.085%
In your favorL ask 0.2699 · S bid 0.2701+$8.52 at entry
24h range −0.55%…+1.23% · median +0.05%
Long pays every4hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$6.88
−0.07%
$Avg Daily PnL
+$3.34
+0.0334%
★Best Day
+$5.36
Sep 25
◎Open Interest
Variational$6.70M
Lighter$4.84M⚡Funding APR
+12.19%
annualized · funding only
⚠Execution Cost
−$16.90
entry + exit fees
⏱Payback
5.1d
to break even
◧24h Volume
Variational$7.85MLighter$6.81MLoading 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 (−$16.90 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.