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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 ~4.2d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+39.89%
7d Period Avg+30.64%
swing±40.19%
LONG Phemex · now
+10.96%
7d avg:+10.62%
SHORT Lighter · now
+50.84%
7d avg:+41.26%
Entry Spread Now
−0.236%
Against youL ask 5.4060 · S bid 5.3932−$23.60 at entry
24h range −0.07%…+0.27% · median +0.12%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$12.48
+0.12%
$Avg Daily PnL
+$8.39
+0.0839%
★Best Day
+$18.82
Sep 21
◎Open Interest
Phemex$4.21M
Lighter$25.20M⚡Funding APR
+30.62%
annualized · funding only
⚠Execution Cost
−$46.25
entry + exit fees
⏱Payback
5.5d
to break even
◧24h Volume
Phemex$9.44MLighter$30.74MLoading 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 (−$46.25 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.