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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 ~241d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.40%
3d Period Avg−2.13%
swing±2.08%
LONG Lighter Robinhood · nowMSFT-USDG
+3.51%
3d avg:+3.51%
SHORT QFEX · now
+3.91%
3d avg:+1.38%
Entry Spread Now
−0.035%
Against youL ask 515.9100 · S bid 515.7300−$3.49 at entry
24h range −0.14%…+0.17% · median −0.02%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.050%/taker0.100%
Loading Funding History…
↗Total PnL
−$28.18
−0.28%
$Avg Daily PnL
−$0.58
−0.0058%
★Best Day
+$0.17
Sep 25
◎Open Interest
Lighter Robinhood$1.29M
QFEX$576.4K⚡Funding APR
−2.13%
annualized · funding only
⚠Execution Cost
−$26.43
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Lighter Robinhood$2.80MQFEX$30.5KLoading 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 (−$26.43 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.