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updated —LINK Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~1.5d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+17.14%
1d Period Avg+6.64%
swing±6.63%
LONG Lighter · now
−6.14%
1d avg:+4.31%
SHORT Phoenix · now
+11.00%
1d avg:+10.95%
Entry Spread Now
−0.970%
Against youL 9.6574 · S 9.5637−$97.00 if it converges
24h range −2.13%…+2.61% · median +0.16%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.005%/taker0.035%
Loading Funding History…
↗Total PnL
−$5.18
−0.05%
$Avg Daily PnL
+$1.82
+0.0182%
★Best Day
+$1.52
Nov 14
◎Open Interest
Lighter$1.35M
Phoenix$6.8K⚡Funding APR
+6.63%
annualized · funding only
⚠Execution Cost
−$7.00
entry + exit fees
⏱Payback
3.9d
to break even
◧24h Volume
Lighter$473.3KPhoenix—Loading 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 (−$7.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.