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updated —TAO Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~8.1d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+9.17%
3d Period Avg+6.51%
swing±13.16%
LONG Phemex · now
+1.35%
3d avg:+1.07%
SHORT Lighter · now
+10.52%
3d avg:+7.58%
Entry Spread Now
−0.004%
NeutralL 207.5400 · S 207.5310
24h range −0.32%…+0.42% · median −0.01%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$15.02
−0.15%
$Avg Daily PnL
+$1.78
+0.0178%
★Best Day
+$3.43
Nov 12
◎Open Interest
Phemex$2.32M
Lighter$479.3K⚡Funding APR
+6.49%
annualized · funding only
⚠Execution Cost
−$20.35
entry + exit fees
⏱Payback
11.4d
to break even
◧24h Volume
Phemex$7.44MLighter$249.3KLoading 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 (−$20.35 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.