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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 ~2.5d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+48.85%
7d Period Avg+45.52%
swing±52.60%
LONG Lighter Robinhood · nowNEAR-USDG
+10.52%
7d avg:+10.52%
SHORT Phoenix · now
+59.37%
7d avg:+56.04%
Entry Spread Now
−0.152%
Against youL ask 4.8638 · S bid 4.8564−$15.21 at entry
24h range −2.44%…+4.86% · median +0.27%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.005%/taker0.035%
Loading Funding History…
↗Total PnL
+$53.56
+0.54%
$Avg Daily PnL
+$12.39
+0.1239%
★Best Day
+$27.34
Sep 28
◎Open Interest
Lighter Robinhood$2.09M
Phoenix$2.12M⚡Funding APR
+45.21%
annualized · funding only
⚠Execution Cost
−$33.14
entry + exit fees
⏱Payback
2.7d
to break even
◧24h Volume
Lighter Robinhood$6.70MPhoenix—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 (−$33.14 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.