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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.00%
3d Period Avg−7.65%
swing±9.97%
LONG Lighter Robinhood · nowTSLA-USDG
+3.51%
3d avg:+3.51%
SHORT Coinbase International · nowTSLA-PERP
+3.51%
3d avg:−4.14%
Entry Spread Now
−0.094%
Against youL ask 372.9800 · S bid 372.6300−$9.38 at entry
24h range −0.16%…+0.04% · median −0.11%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
−$23.12
−0.23%
$Avg Daily PnL
−$2.09
−0.0209%
★Best Day
+$1.28
Sep 25
◎Open Interest
Lighter Robinhood$1.48M
Coinbase International$517.3K⚡Funding APR
−7.64%
annualized · funding only
⚠Execution Cost
−$16.84
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Lighter Robinhood$2.44MCoinbase International$29.8KLoading 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 (−$16.84 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.