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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 ~26d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
7d Period Avg+3.92%
swing±12.21%
LONG QFEX · now
+0.00%
7d avg:+0.46%
SHORT Lighter Robinhood · nowMSFT-USDG
+3.51%
7d avg:+4.38%
Entry Spread Now
−0.038%
Against youL ask 522.1700 · S bid 521.9700−$3.83 at entry
24h range −0.62%…+0.78% · median −0.00%
Long pays every1hShort pays every1h
LONGmaker0.050%/taker0.100%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$17.59
−0.18%
$Avg Daily PnL
+$1.07
+0.0107%
★Best Day
+$2.65
Nov 9
◎Open Interest
QFEX$837.7K
Lighter Robinhood$3.59M⚡Funding APR
+3.91%
annualized · funding only
⚠Execution Cost
−$25.10
entry + exit fees
⏱Payback
23.4d
to break even
◧24h Volume
QFEX$2.71MLighter Robinhood$8.82MLoading 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 (−$25.10 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.