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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 ~1008d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.32%
7d Period Avg+19.89%
swing±17.92%
LONG Phemex · now
−9.96%
7d avg:−2.15%
SHORT Lighter · now
−9.64%
7d avg:+17.74%
Entry Spread Now
−0.012%
Against youL ask 749.0300 · S bid 748.9400−$1.20 at entry
24h range −0.15%…+0.08% · median −0.01%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$50.26
−0.50%
$Avg Daily PnL
+$5.44
+0.0544%
★Best Day
+$9.96
Sep 23
◎Open Interest
Phemex$1.99M
Lighter$1.96M⚡Funding APR
+19.87%
annualized · funding only
⚠Execution Cost
−$88.37
entry + exit fees
⏱Payback
16.2d
to break even
◧24h Volume
Phemex$5.7KLighter$2.21MLoading 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 (−$88.37 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.