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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 ~28d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+2.02%
3d Period Avg+0.79%
swing±6.67%
LONG Lighter Robinhood · nowMSFT-USDG
+3.51%
3d avg:+3.51%
SHORT Ondo · nowMSFT-USD.P
+5.52%
3d avg:+4.30%
Entry Spread Now
−0.105%
Against youL ask 515.9100 · S bid 515.3700−$10.47 at entry
24h range −0.15%…−0.02% · median −0.12%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.035%
Loading Funding History…
↗Total PnL
−$14.80
−0.15%
$Avg Daily PnL
+$0.22
+0.0022%
★Best Day
+$0.53
Sep 25
◎Open Interest
Lighter Robinhood$1.29M
Ondo$574.0K⚡Funding APR
+0.79%
annualized · funding only
⚠Execution Cost
−$15.45
entry + exit fees
⏱Payback
2.4mo
to break even
◧24h Volume
Lighter Robinhood$2.80MOndo$126.5KLoading 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 (−$15.45 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.