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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 ~6.1d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
3d Period Avg+6.97%
swing±12.00%
LONG Variational · now
+0.00%
3d avg:+1.85%
SHORT Lighter · now
+3.51%
3d avg:+8.82%
Entry Spread Now
+0.004%
NeutralL ask 745.4320 · S bid 745.4600
24h range −0.29%…+0.06% · median +0.00%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$0.58
+0.01%
$Avg Daily PnL
+$2.13
+0.0213%
★Best Day
+$4.11
Sep 25
◎Open Interest
Variational$2.26M
Lighter$1.89M⚡Funding APR
+7.78%
annualized · funding only
⚠Execution Cost
−$5.82
entry + exit fees
⏱Payback
2.7d
to break even
◧24h Volume
Variational$984.6KLighter$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 (−$5.82 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.