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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−21.91%
3d Period Avg+1.29%
swing±16.95%
LONG Lighter Robinhood · nowMU-USDG
+3.51%
3d avg:+5.11%
SHORT Coinbase International · nowMU-PERP
−18.41%
3d avg:+6.40%
Entry Spread Now
−0.142%
Against youL ask 1,083.39 · S bid 1,081.85−$14.21 at entry
24h range −0.15%…+0.10% · median −0.03%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
−$19.67
−0.20%
$Avg Daily PnL
+$0.35
+0.0035%
★Best Day
+$2.11
Sep 25
◎Open Interest
Lighter Robinhood$1.80M
Coinbase International$607.2K⚡Funding APR
+1.29%
annualized · funding only
⚠Execution Cost
−$20.73
entry + exit fees
⏱Payback
2.0mo
to break even
◧24h Volume
Lighter Robinhood$3.25MCoinbase International$66.9KLoading 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 (−$20.73 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.