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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
−44.79%
7d Period Avg+1.73%
swing±5.41%
LONG Lighter Robinhood · nowMSFT-USDG
+0.00%
7d avg:+3.51%
SHORT Ondo · nowMSFT-USD.P
−44.79%
7d avg:+5.24%
Entry Spread Now
−0.145%
Against youL ask 516.8900 · S bid 516.1400−$14.51 at entry
24h range −0.15%…−0.07% · median −0.12%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.035%
Loading Funding History…
↗Total PnL
−$13.45
−0.13%
$Avg Daily PnL
+$0.47
+0.0047%
★Best Day
+$1.01
Sep 21
◎Open Interest
Lighter Robinhood$1.32M
Ondo$567.6K⚡Funding APR
+1.73%
annualized · funding only
⚠Execution Cost
−$16.77
entry + exit fees
⏱Payback
1.2mo
to break even
◧24h Volume
Lighter Robinhood$2.57MOndo$107.9KLoading 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 (−$16.77 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.