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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 ~1.8d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+40.32%
3d Period Avg+19.15%
swing±11.66%
LONG Lighter Robinhood · nowSPCX-USDG
+3.51%
3d avg:+3.51%
SHORT Coinbase International · nowSPCX-PERP
+43.83%
3d avg:+22.66%
Entry Spread Now
+0.000%
NeutralL ask 149.8000 · S bid 149.8000
24h range −0.03%…+0.17% · median +0.01%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
−$4.25
−0.04%
$Avg Daily PnL
+$5.24
+0.0524%
★Best Day
+$6.77
Sep 25
◎Open Interest
Lighter Robinhood$2.69M
Coinbase International$1.04M⚡Funding APR
+19.14%
annualized · funding only
⚠Execution Cost
−$19.98
entry + exit fees
⏱Payback
3.8d
to break even
◧24h Volume
Lighter Robinhood$4.84MCoinbase International$43.4KLoading 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 (−$19.98 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.