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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 ~1.6d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+25.42%
3d Period Avg+11.37%
swing±13.35%
LONG Lighter Robinhood · nowSPY-USDG
+3.51%
3d avg:+3.74%
SHORT Coinbase International · nowSPY-PERP
+28.93%
3d avg:+15.11%
Entry Spread Now
−0.082%
Against youL ask 770.3200 · S bid 769.6900−$8.18 at entry
24h range −0.20%…−0.06% · median −0.15%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
−$2.05
−0.02%
$Avg Daily PnL
+$3.11
+0.0311%
★Best Day
+$6.59
Sep 27
◎Open Interest
Lighter Robinhood$52.28M
Coinbase International$835.2K⚡Funding APR
+11.36%
annualized · funding only
⚠Execution Cost
−$11.39
entry + exit fees
⏱Payback
3.7d
to break even
◧24h Volume
Lighter Robinhood$54.75MCoinbase International$209.6KLoading 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 (−$11.39 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.