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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 ~21d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
7d Period Avg+5.93%
swing±47.83%
LONG QFEX · now
+0.00%
7d avg:−1.34%
SHORT Lighter · now
+3.51%
7d avg:+4.59%
Entry Spread Now
+0.003%
NeutralL 107.4469 · S 107.4500
24h range −1.27%…+0.42% · median +0.04%
Long pays every1hShort pays every1h
LONGmaker0.050%/taker0.100%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$8.62
−0.09%
$Avg Daily PnL
+$1.63
+0.0163%
★Best Day
+$5.48
Nov 9
◎Open Interest
QFEX$726.2K
Lighter$772.3K⚡Funding APR
+5.93%
annualized · funding only
⚠Execution Cost
−$20.00
entry + exit fees
⏱Payback
12.3d
to break even
◧24h Volume
QFEX$1.20MLighter$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 (−$20.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.