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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~18d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+2.02%
3d Period Avg+2.00%
swing±1.52%
LONG Lighter · nowUS500-USDC
+3.51%
3d avg:+3.09%
SHORT Ondo · nowUS500-USD.P
+5.52%
3d avg:+5.09%
Entry Spread Now
−0.001%
NeutralL ask 7,722.7 · S bid 7,722.66
24h range −0.05%…+0.04% · median −0.01%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.035%
Loading Funding History…
↗Total PnL
−$8.27
−0.08%
$Avg Daily PnL
+$0.55
+0.0055%
★Best Day
+$0.64
Sep 27
◎Open Interest
Lighter$2.48M
Ondo$9.36M⚡Funding APR
+2.00%
annualized · funding only
⚠Execution Cost
−$9.91
entry + exit fees
⏱Payback
18.1d
to break even
◧24h Volume
Lighter$3.43MOndo$1.14MLoading 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 (−$9.91 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.