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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 ~0.6d
⚠Slippage not modeled — actual cost may differ
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+47.34%
7d Period Avg+32.42%
swing±20.82%
LONG Lighter · now
+10.52%
7d avg:+25.46%
SHORT Coinbase International · nowTAO-PERP
+57.86%
7d avg:+57.88%
Entry Spread Now
+0.042%
In your favorL 319.1570 · S 319.2900+$4.17 if it converges
24h range −0.26%…+0.58% · median +0.04%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
+$54.14
+0.54%
$Avg Daily PnL
+$8.88
+0.0888%
★Best Day
+$14.80
Sep 21
◎Open Interest
Lighter$1.30M
Coinbase International$596.6K⚡Funding APR
+32.40%
annualized · funding only
⚠Execution Cost
−$8.00
entry + exit fees
⏱Payback
21.6h
to break even
◧24h Volume
Lighter$1.95MCoinbase International$2.10MLoading 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 (−$8.00 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.