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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 ~35d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+3.51%
7d Period Avg+30.76%
swing±106.04%
LONG Phemex · nowSAMSUNGUSDT
+0.00%
7d avg:+0.00%
SHORT Lighter · nowSAMSUNGUSD-USDC
+3.51%
7d avg:+30.76%
Entry Spread Now
+2.447%
In your favorL ask 151.0100 · S bid 154.7060+$244.75 at entry
24h range −0.49%…+0.72% · median +0.00%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$22.81
+0.23%
$Avg Daily PnL
+$8.04
+0.0804%
★Best Day
+$23.55
Nov 9
◎Open Interest
Phemex$1.72M
Lighter$2.01M⚡Funding APR
+29.34%
annualized · funding only
⚠Execution Cost
−$33.46
entry + exit fees
⏱Payback
4.2d
to break even
◧24h Volume
Phemex$5.23MLighter$1.68MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$33.46 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.