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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 ~0.7d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+85.47%
7d Period Avg+2.69%
swing±27.09%
LONG Lighter · now
−83.28%
7d avg:+16.20%
SHORT Pionex · nowMSTRX_USDT_PERP
+2.19%
7d avg:+18.89%
Entry Spread Now
+0.000%
NeutralL ask 160.7900 · S bid 160.7900
24h range −0.10%…+0.19% · median +0.06%
Long pays every1hShort pays every8h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$1.88
−0.02%
$Avg Daily PnL
+$2.01
+0.0201%
★Best Day
+$4.21
Sep 23
◎Open Interest
Lighter$3.46M
Pionex$7.77M⚡Funding APR
+7.35%
annualized · funding only
⚠Execution Cost
−$15.98
entry + exit fees
⏱Payback
7.9d
to break even
◧24h Volume
Lighter$2.32MPionex$6.01MLoading 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 (−$15.98 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.