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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
−2.63%
3d Period Avg+20.24%
swing±18.42%
LONG Coinbase International · nowUNI-PERP
+13.15%
3d avg:−3.62%
SHORT Lighter · now
+10.52%
3d avg:+16.62%
Entry Spread Now
−0.030%
Against youL ask 9.6280 · S bid 9.6251−$3.01 at entry
24h range −0.02%…+0.33% · median +0.10%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.040%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$18.22
−0.18%
$Avg Daily PnL
+$5.54
+0.0554%
★Best Day
+$9.88
Sep 26
◎Open Interest
Coinbase International$1.40M
Lighter$4.85M⚡Funding APR
+20.22%
annualized · funding only
⚠Execution Cost
−$34.84
entry + exit fees
⏱Payback
6.3d
to break even
◧24h Volume
Coinbase International$3.47MLighter$4.47MLoading 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 (−$34.84 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.