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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
−34.19%
7d Period Avg+7.68%
swing±13.55%
LONG Lighter Robinhood · nowMU-USDG
−5.26%
7d avg:+4.49%
SHORT Coinbase International · nowMU-PERP
−39.45%
7d avg:+12.17%
Entry Spread Now
−0.116%
Against youL ask 1,090.94 · S bid 1,089.67−$11.64 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
−$6.92
−0.07%
$Avg Daily PnL
+$2.10
+0.0210%
★Best Day
+$6.00
Sep 21
◎Open Interest
Lighter Robinhood$1.65M
Coinbase International$609.6K⚡Funding APR
+7.68%
annualized · funding only
⚠Execution Cost
−$21.64
entry + exit fees
⏱Payback
10.3d
to break even
◧24h Volume
Lighter Robinhood$2.28MCoinbase International$65.5KLoading 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 (−$21.64 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.