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updated —MSFT Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~27d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
3d Period Avg+3.40%
swing±2.84%
LONG QFEX · now
+0.00%
3d avg:+0.06%
SHORT Lighter · now
+3.51%
3d avg:+3.46%
Entry Spread Now
−0.766%
Against youL ask 522.1300 · S bid 518.1300−$76.61 at entry
24h range −0.30%…+0.34% · median −0.03%
Long pays every1hShort pays every1h
LONGmaker0.050%/taker0.100%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$23.07
−0.23%
$Avg Daily PnL
+$0.93
+0.0093%
★Best Day
+$1.41
Nov 12
◎Open Interest
QFEX$837.5K
Lighter$2.54M⚡Funding APR
+3.39%
annualized · funding only
⚠Execution Cost
−$25.86
entry + exit fees
⏱Payback
27.8d
to break even
◧24h Volume
QFEX$2.71MLighter$6.21MLoading 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 (−$25.86 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.