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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%
7d Period Avg+22.33%
swing±146.86%
LONG Bitget · nowSAMSUNGUSDT
+0.00%
7d avg:+7.54%
SHORT Lighter · nowSAMSUNGUSD-USDC
+3.51%
7d avg:+29.87%
Entry Spread Now
−0.025%
Eaten by executionL 150.9700 · S 150.9320−$2.52 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
+$16.45
+0.16%
$Avg Daily PnL
+$5.92
+0.0592%
★Best Day
+$21.83
Nov 12
◎Open Interest
Bitget$1.03M
Lighter$2.01M⚡Funding APR
+21.59%
annualized · funding only
⚠Execution Cost
−$24.96
entry + exit fees
⏱Payback
4.2d
to break even
◧24h Volume
Bitget$4.75MLighter$1.68MLoading 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.