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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 ~36d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+1.10%
7d Period Avg+4.86%
swing±56.86%
LONG Pionex · nowMSTRX_USDT_PERP
+2.41%
7d avg:+0.40%
SHORT Lighter · now
+3.51%
7d avg:+5.26%
Entry Spread Now
−0.023%
Eaten by executionL 107.4844 · S 107.4600−$2.27 if it converges
24h range −0.34%…+0.44% · median −0.07%
Long pays every8hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$0.29
+0.00%
$Avg Daily PnL
+$1.52
+0.0152%
★Best Day
+$15.29
Nov 9
◎Open Interest
Pionex$3.37M
Lighter$772.2K⚡Funding APR
+5.55%
annualized · funding only
⚠Execution Cost
−$10.93
entry + exit fees
⏱Payback
7.2d
to break even
◧24h Volume
Pionex$9.82MLighter$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 (−$10.93 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.