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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−28.93%
7d Period Avg+14.16%
swing±18.29%
LONG Coinbase International · nowMSTR-PERP
−54.35%
7d avg:−2.63%
SHORT Lighter · now
−83.28%
7d avg:+11.53%
Entry Spread Now
+0.044%
In your favorL ask 160.6800 · S bid 160.7500+$4.36 at entry
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
+$2.27
+0.02%
$Avg Daily PnL
+$3.88
+0.0388%
★Best Day
+$8.22
Sep 24
◎Open Interest
Coinbase International$665.5K
Lighter$3.46M⚡Funding APR
+14.15%
annualized · funding only
⚠Execution Cost
−$24.87
entry + exit fees
⏱Payback
6.4d
to break even
◧24h Volume
Coinbase International$126.4KLighter$2.32MLoading 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 (−$24.87 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.