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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
−31.56%
7d Period Avg+44.12%
swing±34.72%
LONG Coinbase International · nowLIT-PERP
+42.08%
7d avg:−38.04%
SHORT Lighter · now
+10.52%
7d avg:+6.08%
Entry Spread Now
−0.214%
Against youL ask 4.6309 · S bid 4.6210−$21.40 at entry
24h range −0.52%…+0.45% · median +0.03%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.040%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$25.23
+0.25%
$Avg Daily PnL
+$12.08
+0.1208%
★Best Day
+$21.13
Sep 24
◎Open Interest
Coinbase International$673.2K
Lighter$55.44M⚡Funding APR
+44.09%
annualized · funding only
⚠Execution Cost
−$59.33
entry + exit fees
⏱Payback
4.9d
to break even
◧24h Volume
Coinbase International$105.8KLighter$14.18MLoading 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 (−$59.33 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.