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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 ~1.5d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+39.45%
3d Period Avg+18.87%
swing±11.14%
LONG Lighter · nowSPCX-USDC
+3.51%
3d avg:+3.79%
SHORT Coinbase International · nowSPCX-PERP
+42.95%
3d avg:+22.66%
Entry Spread Now
+0.134%
In your favorL 149.7000 · S 149.9000+$13.36 if it converges
24h range +0.00%…+0.19% · median +0.05%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
−$0.62
−0.01%
$Avg Daily PnL
+$5.17
+0.0517%
★Best Day
+$6.54
Sep 25
◎Open Interest
Lighter$1.40M
Coinbase International$1.04M⚡Funding APR
+18.86%
annualized · funding only
⚠Execution Cost
−$16.12
entry + exit fees
⏱Payback
3.1d
to break even
◧24h Volume
Lighter$2.22MCoinbase International$43.4KLoading 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 (−$16.12 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.