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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~2.3d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+40.32%
3d Period Avg+14.10%
swing±15.71%
LONG Coinbase International · nowMSTR-PERP
−36.82%
3d avg:−6.84%
SHORT Lighter · now
+3.51%
3d avg:+7.26%
Entry Spread Now
+0.000%
NeutralL ask 160.2300 · S bid 160.2300
24h range −0.02%…+0.32% · median +0.11%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.040%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$13.57
−0.14%
$Avg Daily PnL
+$3.86
+0.0386%
★Best Day
+$4.86
Sep 25
◎Open Interest
Coinbase International$666.6K
Lighter$3.41M⚡Funding APR
+14.09%
annualized · funding only
⚠Execution Cost
−$25.15
entry + exit fees
⏱Payback
6.5d
to break even
◧24h Volume
Coinbase International$126.4KLighter$2.78MLoading 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 (−$25.15 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.