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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 ~1.0d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+44.71%
7d Period Avg+16.67%
swing±9.15%
LONG Lighter · nowSPCX-USDC
+3.51%
7d avg:+4.93%
SHORT Coinbase International · nowSPCX-PERP
+48.21%
7d avg:+21.60%
Entry Spread Now
+0.134%
In your favorL 149.4500 · S 149.6500+$13.38 if it converges
24h range +0.00%…+0.15% · median +0.05%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
+$19.26
+0.19%
$Avg Daily PnL
+$4.57
+0.0457%
★Best Day
+$6.72
Sep 25
◎Open Interest
Lighter$1.43M
Coinbase International$1.04M⚡Funding APR
+16.66%
annualized · funding only
⚠Execution Cost
−$12.70
entry + exit fees
⏱Payback
2.8d
to break even
◧24h Volume
Lighter$1.92MCoinbase 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 (−$12.70 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.