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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.00%
7d Period Avg+2.59%
swing±12.63%
LONG Lighter Robinhood · nowMSFT-USDG
+3.51%
7d avg:+3.42%
SHORT Lighter · now
+3.51%
7d avg:+6.01%
Entry Spread Now
+0.006%
NeutralL 524.4900 · S 524.5200
24h range −1.67%…+1.73% · median +0.02%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$1.77
+0.02%
$Avg Daily PnL
+$0.71
+0.0071%
★Best Day
+$2.76
Oct 27
◎Open Interest
Lighter Robinhood$5.08M
Lighter$4.92M⚡Funding APR
+2.59%
annualized · funding only
⚠Execution Cost
−$3.19
entry + exit fees
⏱Payback
4.5d
to break even
◧24h Volume
Lighter Robinhood$25.78MLighter$15.41MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (−$3.19 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.