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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
−7.89%
7d Period Avg+0.86%
swing±10.45%
LONG Lighter Robinhood · nowTSLA-USDG
+3.51%
7d avg:+3.51%
SHORT Coinbase International · nowTSLA-PERP
−4.38%
7d avg:+4.37%
Entry Spread Now
−0.062%
Against youL ask 372.8700 · S bid 372.6400−$6.17 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
−$12.19
−0.12%
$Avg Daily PnL
+$0.24
+0.0024%
★Best Day
+$2.44
Sep 24
◎Open Interest
Lighter Robinhood$1.52M
Coinbase International$521.7K⚡Funding APR
+0.87%
annualized · funding only
⚠Execution Cost
−$13.85
entry + exit fees
⏱Payback
1.9mo
to break even
◧24h Volume
Lighter Robinhood$2.31MCoinbase International$26.3KLoading 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 (−$13.85 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.