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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%
7d Period Avg+18.87%
swing±27.45%
LONG Phemex · now
+10.96%
7d avg:+10.58%
SHORT Lighter · now
+10.52%
7d avg:+29.45%
Entry Spread Now
−0.030%
Eaten by executionL 0.2700 · S 0.2699−$2.96 if it converges
24h range −0.09%…+0.33% · median +0.03%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$19.64
+0.20%
$Avg Daily PnL
+$5.17
+0.0517%
★Best Day
+$16.82
Sep 21
◎Open Interest
Phemex$1.96M
Lighter$4.83M⚡Funding APR
+18.85%
annualized · funding only
⚠Execution Cost
−$16.52
entry + exit fees
⏱Payback
3.2d
to break even
◧24h Volume
Phemex$9.44MLighter$6.45MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (−$16.52 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.