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updated —MSTR Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
3d Period Avg+6.20%
swing±41.86%
LONG Variational · now
+0.00%
3d avg:−3.10%
SHORT Lighter · now
+3.51%
3d avg:+3.10%
Entry Spread Now
−0.041%
Against youL 107.4840 · S 107.4400−$4.09 if it converges
24h range −0.57%…+1.07% · median −0.01%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$5.43
+0.05%
$Avg Daily PnL
+$1.81
+0.0181%
★Best Day
+$2.77
Nov 13
◎Open Interest
Variational$1.54M
Lighter$772.1K⚡Funding APR
+6.60%
annualized · funding only
⚠Execution Cost
+$0.00
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Variational$1.21MLighter$2.19MLoading 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 (+$0.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.