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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−1.75%
3d Period Avg+3.38%
swing±6.06%
LONG Lighter · now
+10.52%
3d avg:+5.80%
SHORT Lighter Robinhood · nowHYPE-USDG
+8.77%
3d avg:+9.18%
Entry Spread Now
−0.023%
Against youL 94.4083 · S 94.3870−$2.26 if it converges
24h range −0.10%…+0.38% · median −0.00%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$2.78
+0.03%
$Avg Daily PnL
+$0.93
+0.0093%
★Best Day
+$1.33
Oct 28
◎Open Interest
Lighter$17.08M
Lighter Robinhood$4.28M⚡Funding APR
+3.38%
annualized · funding only
⚠Execution Cost
+$0.00
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Lighter$177.75MLighter Robinhood$35.09MLoading 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 (+$0.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.