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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 ~27d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
7d Period Avg+3.15%
swing±12.25%
LONG QFEX · now
+0.00%
7d avg:+0.46%
SHORT Lighter · now
+3.51%
7d avg:+3.61%
Entry Spread Now
−0.776%
Against youL ask 522.1800 · S bid 518.1300−$77.56 at entry
24h range −0.30%…+0.34% · median −0.03%
Long pays every1hShort pays every1h
LONGmaker0.050%/taker0.100%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$19.93
−0.20%
$Avg Daily PnL
+$0.86
+0.0086%
★Best Day
+$1.41
Nov 12
◎Open Interest
QFEX$837.7K
Lighter$2.55M⚡Funding APR
+3.15%
annualized · funding only
⚠Execution Cost
−$25.97
entry + exit fees
⏱Payback
1.0mo
to break even
◧24h Volume
QFEX$2.71MLighter$6.47MLoading 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 (−$25.97 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.