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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
−11.40%
7d Period Avg+32.65%
swing±20.70%
LONG Hotcoin · now
+21.92%
7d avg:−10.93%
SHORT Lighter · now
+10.52%
7d avg:+21.72%
Entry Spread Now
−0.547%
Against youL ask 0.2594 · S bid 0.2579−$54.75 at entry
24h range −0.36%…+0.62% · median +0.15%
Long pays every4hShort pays every1h
LONGmaker0.020%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$37.78
+0.38%
$Avg Daily PnL
+$8.79
+0.0879%
★Best Day
+$14.07
Sep 30
◎Open Interest
Hotcoin$9.86M
Lighter$6.71M⚡Funding APR
+32.07%
annualized · funding only
⚠Execution Cost
−$23.73
entry + exit fees
⏱Payback
2.7d
to break even
◧24h Volume
Hotcoin$43.04MLighter$17.04MLoading 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 (−$23.73 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.