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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
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−4.38%
7d Period Avg+2.61%
swing±5.38%
LONG Lighter · now
+10.52%
7d avg:+7.10%
SHORT Lighter Robinhood · nowHYPE-USDG
+6.14%
7d avg:+9.71%
Entry Spread Now
−0.004%
NeutralL ask 95.2496 · S bid 95.2460
24h range −0.10%…+0.38% · median −0.00%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$0.73
+0.01%
$Avg Daily PnL
+$0.72
+0.0072%
★Best Day
+$1.33
Oct 28
◎Open Interest
Lighter$18.67M
Lighter Robinhood$4.24M⚡Funding APR
+2.61%
annualized · funding only
⚠Execution Cost
−$4.28
entry + exit fees
⏱Payback
6.0d
to break even
◧24h Volume
Lighter$168.66MLighter Robinhood$33.36MLoading 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 (−$4.28 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.