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updated —SMSN Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~26d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
3d Period Avg+21.59%
swing±152.38%
LONG Bitget · nowSAMSUNGUSDT
+0.00%
3d avg:+0.63%
SHORT Lighter · nowSAMSUNGUSD-USDC
+3.51%
3d avg:+22.22%
Entry Spread Now
−0.062%
Eaten by executionL 150.9500 · S 150.8570−$6.16 if it converges
24h range −0.40%…+0.54% · median −0.01%
Long pays every4hShort pays every1h
LONGmaker0.020%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$7.56
−0.08%
$Avg Daily PnL
+$5.80
+0.0580%
★Best Day
+$21.83
Nov 12
◎Open Interest
Bitget$1.03M
Lighter$2.01M⚡Funding APR
+21.17%
annualized · funding only
⚠Execution Cost
−$24.96
entry + exit fees
⏱Payback
4.3d
to break even
◧24h Volume
Bitget$4.64MLighter$1.36MLoading 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 (−$24.96 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.