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updated —ETH Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~90d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
3d Period Avg+2.98%
swing±4.08%
LONG Lighter · now
+10.52%
3d avg:+7.78%
SHORT Ondo · nowETH-USD.P
+10.96%
3d avg:+10.76%
Entry Spread Now
−0.839%
Against youL ask 1,921.12 · S bid 1,905−$83.91 at entry
24h range −0.35%…+0.13% · median −0.09%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.035%
Loading Funding History…
↗Total PnL
−$8.39
−0.08%
$Avg Daily PnL
+$0.82
+0.0082%
★Best Day
+$0.94
Nov 12
◎Open Interest
Lighter$68.63M
Ondo$1.99M⚡Funding APR
+2.98%
annualized · funding only
⚠Execution Cost
−$10.84
entry + exit fees
⏱Payback
13.3d
to break even
◧24h Volume
Lighter$440.15MOndo$6.42MLoading 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 (−$10.84 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.