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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 ~1.5d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+34.19%
7d Period Avg+23.34%
swing±7.29%
LONG Lighter · now
−0.88%
7d avg:+7.59%
SHORT Coinbase International · nowPAXG-PERP
+33.31%
7d avg:+30.93%
Entry Spread Now
+0.096%
In your favorL 4,260.21 · S 4,264.32+$9.65 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
+$30.45
+0.30%
$Avg Daily PnL
+$6.39
+0.0639%
★Best Day
+$8.73
Sep 27
◎Open Interest
Lighter$1.35M
Coinbase International$1.10M⚡Funding APR
+23.32%
annualized · funding only
⚠Execution Cost
−$14.28
entry + exit fees
⏱Payback
2.2d
to break even
◧24h Volume
Lighter$227.4KCoinbase International$165.5KLoading 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 (−$14.28 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.