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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
−0.51%
7d Period Avg+16.32%
swing±44.93%
LONG Pionex · nowPONS_USDT_PERP
+11.03%
7d avg:+47.06%
SHORT Lighter · now
+10.52%
7d avg:+63.38%
Entry Spread Now
+0.110%
In your favorL 0.5697 · S 0.5704+$11.00 if it converges
24h range −0.79%…+0.72% · median +0.03%
Long pays every4hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$21.28
+0.21%
$Avg Daily PnL
+$4.47
+0.0447%
★Best Day
+$13.60
Sep 25
◎Open Interest
Pionex$707.8K
Lighter$1.78M⚡Funding APR
+16.31%
annualized · funding only
⚠Execution Cost
−$10.00
entry + exit fees
⏱Payback
2.2d
to break even
◧24h Volume
Pionex$1.43MLighter$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 (−$10.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.