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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
+39.89%
7d Period Avg+33.62%
swing±39.27%
LONG Variational · now
+10.96%
7d avg:+7.64%
SHORT Lighter · now
+50.84%
7d avg:+41.26%
Entry Spread Now
−0.170%
Against youL ask 5.4167 · S bid 5.4075−$16.98 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
+$52.05
+0.52%
$Avg Daily PnL
+$9.21
+0.0921%
★Best Day
+$20.01
Sep 21
◎Open Interest
Variational$15.67M
Lighter$25.37M⚡Funding APR
+33.60%
annualized · funding only
⚠Execution Cost
−$12.39
entry + exit fees
⏱Payback
1.4d
to break even
◧24h Volume
Variational$22.33MLighter$30.62MLoading 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 (−$12.39 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.