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updated 2:39:40 AMFunding Arbitrage Backtester
Size$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~0.1d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+462.62%
30d Period Avg+25.94%
LONG Backpack · nowSTABLE_USDC_PERP
−452.10%
30d avg:−59.95%
SHORT Lighter · now
+10.52%
30d avg:−34.01%
Entry Spread Now
−0.203%
Against youL 0.02951 · S 0.02945−$20.33 if it converges
24h range −0.31%…+1.05% · median −0.09%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.050%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$193.36
+1.93%
$Avg Daily PnL
+$6.56
+0.0656%
★Best Day
+$30.54
Aug 3
◎Open Interest
Backpack$34.3K
Lighter$93.9K⚡Funding APR
+23.94%
annualized · funding only
⚠Execution Cost
−$10.00
entry + exit fees
⏱Payback
1.5d
to break even
◧24h Volume
Backpack$39.2KLighter$45.3KLoading 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.