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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~6.5d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+47.34%
3d Period Avg+9.53%
swing±13.47%
LONG Phemex · now
−43.83%
3d avg:−0.26%
SHORT Lighter · now
+3.51%
3d avg:+9.27%
Entry Spread Now
−0.023%
Against youL ask 745.6300 · S bid 745.4600−$2.28 at entry
24h range −0.23%…+0.08% · median −0.02%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$76.98
−0.77%
$Avg Daily PnL
+$2.66
+0.0266%
★Best Day
+$5.48
Sep 25
◎Open Interest
Phemex$1.98M
Lighter$1.89M⚡Funding APR
+9.70%
annualized · funding only
⚠Execution Cost
−$84.95
entry + exit fees
⏱Payback
1.1mo
to break even
◧24h Volume
Phemex$6.8KLighter$2.55MLoading 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 (−$84.95 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.