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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 ~67d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+1.31%
7d Period Avg+48.91%
swing±43.58%
LONG Phemex · now
+10.96%
7d avg:+10.96%
SHORT Lighter · now
+12.27%
7d avg:+59.87%
Entry Spread Now
+0.078%
Eaten by executionL 1.6340 · S 1.6353+$7.77 if it converges
24h range −0.12%…+0.56% · median +0.13%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$69.64
+0.70%
$Avg Daily PnL
+$13.39
+0.1339%
★Best Day
+$20.63
Sep 26
◎Open Interest
Phemex$1.83M
Lighter$3.26M⚡Funding APR
+48.88%
annualized · funding only
⚠Execution Cost
−$24.10
entry + exit fees
⏱Payback
1.8d
to break even
◧24h Volume
Phemex$2.27MLighter$4.04MLoading 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 (−$24.10 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.