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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 ~1.1d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+41.64%
3d Period Avg+17.18%
swing±23.08%
LONG Variational · now
+10.96%
3d avg:+8.98%
SHORT Lighter · now
+52.60%
3d avg:+26.16%
Entry Spread Now
−0.334%
Against youL ask 5.3498 · S bid 5.3319−$33.35 at entry
24h range −0.45%…+0.69% · median +0.16%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$0.45
+0.00%
$Avg Daily PnL
+$4.24
+0.0424%
★Best Day
+$9.51
Sep 27
◎Open Interest
Variational$15.09M
Lighter$24.68M⚡Funding APR
+15.46%
annualized · funding only
⚠Execution Cost
−$12.26
entry + exit fees
⏱Payback
2.9d
to break even
◧24h Volume
Variational$22.18MLighter$32.21MLoading 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 (−$12.26 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.