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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~22d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.07%
3d Period Avg+0.78%
swing±4.05%
LONG Lighter Robinhood · nowNEAR-USDG
+7.89%
3d avg:+10.52%
SHORT Bullpen · now
+10.96%
3d avg:+11.30%
Entry Spread Now
+0.073%
In your favorL ask 5.4482 · S bid 5.4522+$7.34 at entry
24h range −0.14%…+0.42% · median +0.07%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$17.91
−0.18%
$Avg Daily PnL
+$0.21
+0.0021%
★Best Day
+$0.37
Sep 30
◎Open Interest
Lighter Robinhood$2.21M
Bullpen$176.59M⚡Funding APR
+0.78%
annualized · funding only
⚠Execution Cost
−$18.55
entry + exit fees
⏱Payback
2.9mo
to break even
◧24h Volume
Lighter Robinhood$4.88MBullpen$341.58MLoading 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 (−$18.55 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.