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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
−40.32%
3d Period Avg+2.56%
swing±12.79%
LONG Lighter Robinhood · nowMETA-USDG
+35.94%
3d avg:+4.01%
SHORT Coinbase International · nowMETA-PERP
−4.38%
3d avg:+6.57%
Entry Spread Now
−0.167%
Against youL ask 744.8400 · S bid 743.6000−$16.65 at entry
24h range −0.23%…+0.05% · median −0.17%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
−$19.35
−0.19%
$Avg Daily PnL
+$0.70
+0.0070%
★Best Day
+$2.14
Sep 25
◎Open Interest
Lighter Robinhood$1.43M
Coinbase International$592.0K⚡Funding APR
+2.57%
annualized · funding only
⚠Execution Cost
−$21.46
entry + exit fees
⏱Payback
1.0mo
to break even
◧24h Volume
Lighter Robinhood$2.40MCoinbase International$60.7KLoading 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 (−$21.46 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.