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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−0.44%
7d Period Avg+52.42%
swing±48.97%
LONG Phemex · now
+10.96%
7d avg:+10.96%
SHORT Lighter · now
+10.52%
7d avg:+63.38%
Entry Spread Now
−0.005%
NeutralL 0.5704 · S 0.5704
24h range −0.25%…+0.32% · median −0.02%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$88.47
+0.88%
$Avg Daily PnL
+$14.35
+0.1435%
★Best Day
+$27.75
Sep 21
◎Open Interest
Phemex$1.48M
Lighter$1.78M⚡Funding APR
+52.39%
annualized · funding only
⚠Execution Cost
−$12.00
entry + exit fees
⏱Payback
20.2h
to break even
◧24h Volume
Phemex$2.58MLighter$1.25MLoading 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.