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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 ~2.4d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+46.39%
3d Period Avg+30.03%
swing±64.22%
LONG Lighter Robinhood · nowNEAR-USDG
+10.52%
3d avg:+10.53%
SHORT Phoenix · now
+56.91%
3d avg:+40.56%
Entry Spread Now
+0.006%
In your favorL ask 4.7987 · S bid 4.7990+$0.63 at entry
24h range −2.44%…+4.86% · median +0.36%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.005%/taker0.035%
Loading Funding History…
↗Total PnL
−$6.38
−0.06%
$Avg Daily PnL
+$8.22
+0.0822%
★Best Day
+$19.51
Sep 29
◎Open Interest
Lighter Robinhood$1.95M
Phoenix$2.10M⚡Funding APR
+30.01%
annualized · funding only
⚠Execution Cost
−$31.05
entry + exit fees
⏱Payback
3.8d
to break even
◧24h Volume
Lighter Robinhood$6.81MPhoenix—Loading 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 (−$31.05 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.