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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 ~4.9d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+20.60%
3d Period Avg+73.69%
swing±42.61%
LONG Phemex · now
+10.96%
3d avg:+10.96%
SHORT Lighter · now
+31.56%
3d avg:+84.65%
Entry Spread Now
+0.051%
Eaten by executionL 1.6190 · S 1.6198+$5.13 if it converges
24h range −0.12%…+0.56% · median +0.12%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$32.04
+0.32%
$Avg Daily PnL
+$19.81
+0.1981%
★Best Day
+$20.63
Sep 26
◎Open Interest
Phemex$1.79M
Lighter$3.25M⚡Funding APR
+72.29%
annualized · funding only
⚠Execution Cost
−$27.38
entry + exit fees
⏱Payback
1.4d
to break even
◧24h Volume
Phemex$2.28MLighter$3.97MLoading 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 (−$27.38 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.