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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
−1.75%
3d Period Avg−4.55%
swing±11.27%
LONG Coinbase International · nowMSFT-PERP
+5.26%
3d avg:+8.06%
SHORT Lighter Robinhood · nowMSFT-USDG
+3.51%
3d avg:+3.51%
Entry Spread Now
+0.021%
In your favorL ask 515.6400 · S bid 515.7500+$2.13 at entry
24h range −0.02%…+0.18% · median +0.05%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.040%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$21.27
−0.21%
$Avg Daily PnL
−$1.25
−0.0125%
★Best Day
+$1.31
Sep 25
◎Open Interest
Coinbase International$700.6K
Lighter Robinhood$1.29M⚡Funding APR
−4.55%
annualized · funding only
⚠Execution Cost
−$17.53
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Coinbase International$150.8KLighter Robinhood$2.80MLoading 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 (−$17.53 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.