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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 ~9.3d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.94%
3d Period Avg+22.26%
swing±46.33%
LONG Pionex · nowPONS_USDT_PERP
+10.96%
3d avg:+40.04%
SHORT Lighter · now
+14.90%
3d avg:+62.30%
Entry Spread Now
+0.345%
In your favorL 0.5732 · S 0.5752+$34.54 if it converges
24h range −0.79%…+0.70% · median +0.02%
Long pays every4hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$7.57
+0.08%
$Avg Daily PnL
+$5.86
+0.0586%
★Best Day
+$14.18
Sep 25
◎Open Interest
Pionex$721.9K
Lighter$1.80M⚡Funding APR
+21.37%
annualized · funding only
⚠Execution Cost
−$10.00
entry + exit fees
⏱Payback
1.7d
to break even
◧24h Volume
Pionex$1.40MLighter$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 (−$10.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.