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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 ~1.4d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+37.69%
3d Period Avg+24.71%
swing±8.64%
LONG Lighter · now
−7.89%
3d avg:+6.14%
SHORT Coinbase International · nowPAXG-PERP
+29.80%
3d avg:+30.85%
Entry Spread Now
+0.115%
In your favorL 4,233.09 · S 4,237.94+$11.46 if it converges
24h range +0.05%…+0.22% · median +0.13%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
+$5.60
+0.06%
$Avg Daily PnL
+$6.77
+0.0677%
★Best Day
+$8.73
Sep 27
◎Open Interest
Lighter$1.37M
Coinbase International$1.20M⚡Funding APR
+24.70%
annualized · funding only
⚠Execution Cost
−$14.70
entry + exit fees
⏱Payback
2.2d
to break even
◧24h Volume
Lighter$329.1KCoinbase International$166.9KLoading 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 (−$14.70 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.