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updated —MSTR Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+9.95%
7d Period Avg+10.19%
swing±42.98%
LONG Variational · now
−6.44%
7d avg:−4.98%
SHORT Lighter · now
+3.51%
7d avg:+5.21%
Entry Spread Now
−0.016%
NeutralL 107.2270 · S 107.2100
24h range −0.57%…+1.07% · median −0.01%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$18.03
+0.18%
$Avg Daily PnL
+$2.58
+0.0258%
★Best Day
+$5.75
Nov 8
◎Open Interest
Variational$1.53M
Lighter$783.7K⚡Funding APR
+9.40%
annualized · funding only
⚠Execution Cost
+$0.00
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Variational$1.25MLighter$2.17MLoading 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 (+$0.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.