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updated —PAXG Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~3.4d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+12.93%
3d Period Avg+3.39%
swing±11.03%
LONG Lighter · now
−0.88%
3d avg:+3.41%
SHORT Hotcoin · now
+12.05%
3d avg:+6.80%
Entry Spread Now
+0.026%
Eaten by executionL 3,895.82 · S 3,896.85+$2.64 if it converges
24h range −0.04%…+0.07% · median +0.03%
Long pays every1hShort pays every4h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.060%
Loading Funding History…
↗Total PnL
−$9.28
−0.09%
$Avg Daily PnL
+$0.95
+0.0095%
★Best Day
+$2.61
Oct 31
◎Open Interest
Lighter$1.67M
Hotcoin$13.51M⚡Funding APR
+3.47%
annualized · funding only
⚠Execution Cost
−$12.13
entry + exit fees
⏱Payback
12.8d
to break even
◧24h Volume
Lighter$372.2KHotcoin$1.39MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (−$12.13 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.