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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
−17.18%
7d Period Avg+12.36%
swing±77.57%
LONG Ondo · nowMSTR-USD.P
+20.69%
7d avg:−7.76%
SHORT Lighter · now
+3.51%
7d avg:+4.60%
Entry Spread Now
+0.149%
In your favorL 107.2900 · S 107.4500+$14.91 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
+$7.17
+0.07%
$Avg Daily PnL
+$2.02
+0.0202%
★Best Day
+$4.79
Nov 9
◎Open Interest
Ondo$604.9K
Lighter$772.3K⚡Funding APR
+7.39%
annualized · funding only
⚠Execution Cost
−$7.00
entry + exit fees
⏱Payback
3.5d
to break even
◧24h Volume
Ondo$5.23MLighter$2.20MLoading 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.