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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
−22.53%
7d Period Avg+1.54%
swing±15.79%
LONG Lighter Robinhood · nowMETA-USDG
+3.51%
7d avg:+4.23%
SHORT Ondo · nowMETA-USD.P
−19.02%
7d avg:+5.77%
Entry Spread Now
−0.168%
Against youL ask 749.4700 · S bid 748.2100−$16.81 at entry
24h range −0.20%…−0.04% · median −0.14%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.035%
Loading Funding History…
↗Total PnL
−$12.73
−0.13%
$Avg Daily PnL
+$0.42
+0.0042%
★Best Day
+$1.67
Sep 27
◎Open Interest
Lighter Robinhood$1.43M
Ondo$880.0K⚡Funding APR
+1.54%
annualized · funding only
⚠Execution Cost
−$15.68
entry + exit fees
⏱Payback
1.2mo
to break even
◧24h Volume
Lighter Robinhood$2.28MOndo$459.2KLoading 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 (−$15.68 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.