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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
−21.04%
7d Period Avg+2.78%
swing±10.03%
LONG Lighter Robinhood · nowMETA-USDG
+3.51%
7d avg:+4.23%
SHORT Coinbase International · nowMETA-PERP
−17.53%
7d avg:+7.01%
Entry Spread Now
−0.163%
Against youL ask 749.4700 · S bid 748.2500−$16.28 at entry
24h range −0.23%…−0.07% · median −0.17%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
−$9.96
−0.10%
$Avg Daily PnL
+$0.76
+0.0076%
★Best Day
+$2.18
Sep 25
◎Open Interest
Lighter Robinhood$1.43M
Coinbase International$542.3K⚡Funding APR
+2.77%
annualized · funding only
⚠Execution Cost
−$15.28
entry + exit fees
⏱Payback
20.1d
to break even
◧24h Volume
Lighter Robinhood$2.28MCoinbase International$46.3KLoading 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 (−$15.28 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.