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updated —MSTR Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−2.02%
3d Period Avg+12.80%
swing±86.67%
LONG Ondo · nowMSTR-USD.P
+5.52%
3d avg:−9.13%
SHORT Lighter · now
+3.51%
3d avg:+3.67%
Entry Spread Now
+0.163%
In your favorL 107.2551 · S 107.4300+$16.31 if it converges
24h range −0.60%…+0.72% · median +0.10%
Long pays every1hShort pays every1h
LONGmaker0.015%/taker0.035%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$1.39
−0.01%
$Avg Daily PnL
+$1.87
+0.0187%
★Best Day
+$2.36
Nov 12
◎Open Interest
Ondo$604.6K
Lighter$771.7K⚡Funding APR
+6.83%
annualized · funding only
⚠Execution Cost
−$7.00
entry + exit fees
⏱Payback
3.7d
to break even
◧24h Volume
Ondo$5.15MLighter$2.17MLoading 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 (−$7.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.