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updated —MSTR Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~21d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
3d Period Avg+5.24%
swing±45.97%
LONG QFEX · now
+0.00%
3d avg:−1.58%
SHORT Lighter · now
+3.51%
3d avg:+3.66%
Entry Spread Now
+0.005%
NeutralL 107.4251 · S 107.4300
24h range −1.27%…+0.42% · median +0.04%
Long pays every1hShort pays every1h
LONGmaker0.050%/taker0.100%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$15.69
−0.16%
$Avg Daily PnL
+$1.44
+0.0144%
★Best Day
+$4.31
Nov 12
◎Open Interest
QFEX$708.0K
Lighter$771.7K⚡Funding APR
+5.24%
annualized · funding only
⚠Execution Cost
−$20.00
entry + exit fees
⏱Payback
13.9d
to break even
◧24h Volume
QFEX$1.22MLighter$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 (−$20.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.