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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 ~26d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+2.63%
7d Period Avg+3.08%
swing±11.07%
LONG Coinbase International · nowMSFT-PERP
−2.63%
7d avg:+0.43%
SHORT Lighter Robinhood · nowMSFT-USDG
+0.00%
7d avg:+3.51%
Entry Spread Now
−0.041%
Against youL ask 516.8800 · S bid 516.6700−$4.06 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
−$13.06
−0.13%
$Avg Daily PnL
+$0.84
+0.0084%
★Best Day
+$3.37
Sep 23
◎Open Interest
Coinbase International$693.5K
Lighter Robinhood$1.32M⚡Funding APR
+3.07%
annualized · funding only
⚠Execution Cost
−$18.95
entry + exit fees
⏱Payback
22.5d
to break even
◧24h Volume
Coinbase International$147.8KLighter Robinhood$2.57MLoading 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 (−$18.95 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.