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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 ~2.5d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+12.91%
7d Period Avg+9.62%
swing±6.17%
LONG NADO · nowETH-PERP
−2.39%
7d avg:−0.16%
SHORT Lighter Robinhood · nowETH-USDG
+10.52%
7d avg:+9.46%
Entry Spread Now
−0.004%
NeutralL ask 1,909.37 · S bid 1,909.29
24h range −0.20%…+0.23% · median +0.00%
Long pays every1hShort pays every1h
LONGmaker0.010%/taker0.035%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$9.56
+0.10%
$Avg Daily PnL
+$2.63
+0.0263%
★Best Day
+$3.75
Nov 10
◎Open Interest
NADO$4.85M
Lighter Robinhood$13.13M⚡Funding APR
+9.62%
annualized · funding only
⚠Execution Cost
−$8.88
entry + exit fees
⏱Payback
3.4d
to break even
◧24h Volume
NADO$73.29MLighter Robinhood$57.91MLoading 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 (−$8.88 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.