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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 ~11d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.94%
3d Period Avg+51.34%
swing±46.81%
LONG Phemex · now
+10.96%
3d avg:+10.96%
SHORT Lighter · now
+14.90%
3d avg:+62.30%
Entry Spread Now
+0.031%
Eaten by executionL 0.5750 · S 0.5752+$3.13 if it converges
24h range −0.26%…+0.32% · median −0.02%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$28.46
+0.28%
$Avg Daily PnL
+$13.49
+0.1349%
★Best Day
+$19.27
Sep 25
◎Open Interest
Phemex$1.54M
Lighter$1.80M⚡Funding APR
+49.23%
annualized · funding only
⚠Execution Cost
−$12.00
entry + exit fees
⏱Payback
21.4h
to break even
◧24h Volume
Phemex$2.64MLighter$1.29MLoading 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 (−$12.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.