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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 ~25d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
3d Period Avg+3.76%
swing±3.31%
LONG QFEX · now
+0.00%
3d avg:+0.06%
SHORT Lighter Robinhood · nowMSFT-USDG
+3.51%
3d avg:+3.82%
Entry Spread Now
−0.029%
Against youL ask 522.1400 · S bid 521.9900−$2.87 at entry
24h range −0.62%…+0.78% · median −0.00%
Long pays every1hShort pays every1h
LONGmaker0.050%/taker0.100%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$21.34
−0.21%
$Avg Daily PnL
+$1.03
+0.0103%
★Best Day
+$1.52
Nov 12
◎Open Interest
QFEX$837.5K
Lighter Robinhood$3.60M⚡Funding APR
+3.76%
annualized · funding only
⚠Execution Cost
−$24.43
entry + exit fees
⏱Payback
23.7d
to break even
◧24h Volume
QFEX$2.71MLighter Robinhood$8.55MLoading 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 (−$24.43 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.