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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 ~34d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+2.19%
7d Period Avg+4.49%
swing±10.97%
LONG Lighter Robinhood · nowNEAR-USDG
+8.77%
7d avg:+10.52%
SHORT Bullpen · now
+10.96%
7d avg:+15.01%
Entry Spread Now
+0.123%
In your favorL ask 5.3723 · S bid 5.3789+$12.29 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
−$12.05
−0.12%
$Avg Daily PnL
+$1.23
+0.0123%
★Best Day
+$4.83
Sep 27
◎Open Interest
Lighter Robinhood$2.17M
Bullpen$173.41M⚡Funding APR
+4.48%
annualized · funding only
⚠Execution Cost
−$20.65
entry + exit fees
⏱Payback
16.8d
to break even
◧24h Volume
Lighter Robinhood$4.94MBullpen$342.24MLoading 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 (−$20.65 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.