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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 ~2.4d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+66.62%
7d Period Avg+41.36%
swing±32.41%
LONG Lighter · now
+10.52%
7d avg:+29.45%
SHORT Coinbase International · nowENA-PERP
+77.14%
7d avg:+70.81%
Entry Spread Now
+0.007%
In your favorL ask 0.2698 · S bid 0.2698+$0.74 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
+$35.71
+0.36%
$Avg Daily PnL
+$11.32
+0.1132%
★Best Day
+$22.72
Sep 27
◎Open Interest
Lighter$4.83M
Coinbase International$1.02M⚡Funding APR
+41.33%
annualized · funding only
⚠Execution Cost
−$43.56
entry + exit fees
⏱Payback
3.9d
to break even
◧24h Volume
Lighter$6.45MCoinbase International$820.8KLoading 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 (−$43.56 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.