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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 ~1.3d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+30.68%
7d Period Avg+6.82%
swing±12.61%
LONG Lighter Robinhood · nowSPY-USDG
+3.51%
7d avg:+4.17%
SHORT Coinbase International · nowSPY-PERP
+34.19%
7d avg:+10.99%
Entry Spread Now
−0.121%
Against youL ask 770.0600 · S bid 769.1300−$12.08 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
+$2.54
+0.03%
$Avg Daily PnL
+$1.87
+0.0187%
★Best Day
+$6.59
Sep 27
◎Open Interest
Lighter Robinhood$51.80M
Coinbase International$825.9K⚡Funding APR
+6.81%
annualized · funding only
⚠Execution Cost
−$10.52
entry + exit fees
⏱Payback
5.6d
to break even
◧24h Volume
Lighter Robinhood$48.79MCoinbase International$193.6KLoading 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 (−$10.52 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.