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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 ~29d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+2.02%
7d Period Avg+1.55%
swing±25.32%
LONG Lighter · now
+3.51%
7d avg:+3.61%
SHORT Ondo · nowMSFT-USD.P
+5.52%
7d avg:+5.16%
Entry Spread Now
+0.687%
In your favorL ask 518.1400 · S bid 521.7000+$68.71 at entry
24h range −0.41%…+0.47% · median +0.00%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.035%
Loading Funding History…
↗Total PnL
−$12.85
−0.13%
$Avg Daily PnL
+$0.42
+0.0042%
★Best Day
+$2.12
Nov 9
◎Open Interest
Lighter$2.55M
Ondo$1.56M⚡Funding APR
+1.54%
annualized · funding only
⚠Execution Cost
−$15.81
entry + exit fees
⏱Payback
1.2mo
to break even
◧24h Volume
Lighter$6.47MOndo$3.74MLoading 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 (−$15.81 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.