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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 ~102d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
3d Period Avg+1.24%
swing±2.20%
LONG Lighter Robinhood · nowETH-USDG
+10.52%
3d avg:+9.52%
SHORT Ondo · nowETH-USD.P
+10.96%
3d avg:+10.76%
Entry Spread Now
−0.080%
Against youL ask 1,906.52 · S bid 1,905−$7.97 at entry
24h range −0.19%…+0.13% · median −0.10%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.035%
Loading Funding History…
↗Total PnL
−$11.30
−0.11%
$Avg Daily PnL
+$0.34
+0.0034%
★Best Day
+$0.39
Nov 12
◎Open Interest
Lighter Robinhood$12.99M
Ondo$1.99M⚡Funding APR
+1.24%
annualized · funding only
⚠Execution Cost
−$12.32
entry + exit fees
⏱Payback
1.2mo
to break even
◧24h Volume
Lighter Robinhood$57.77MOndo$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 (−$12.32 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.