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updated 4:28:28 AMFunding Arbitrage Backtester
Size$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~2.5d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+14.42%
3d Period Avg+109.52%
LONG Backpack · nowSTABLE_USDC_PERP
−224.80%
3d avg:−267.54%
SHORT Lighter · now
−210.38%
3d avg:−158.02%
Entry Spread Now
+0.041%
Eaten by executionL 0.02947 · S 0.02948+$4.07 if it converges
24h range −0.31%…+1.05% · median −0.10%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$70.24
+0.70%
$Avg Daily PnL
+$20.06
+0.2006%
★Best Day
+$25.81
Aug 15
◎Open Interest
Backpack$34.0K
Lighter$94.1K⚡Funding APR
+73.22%
annualized · funding only
⚠Execution Cost
−$10.00
entry + exit fees
⏱Payback
12.0h
to break even
◧24h Volume
Backpack$41.6KLighter$42.0KLoading 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 (−$10.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.