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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
−0.44%
3d Period Avg+6.32%
swing±15.66%
LONG Phemex · now
+10.96%
3d avg:+10.96%
SHORT Lighter · now
+10.52%
3d avg:+17.28%
Entry Spread Now
+0.063%
In your favorL ask 9.6190 · S bid 9.6251+$6.34 at entry
24h range +0.03%…+0.29% · median +0.12%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$29.66
−0.30%
$Avg Daily PnL
+$1.55
+0.0155%
★Best Day
+$2.90
Sep 26
◎Open Interest
Phemex$28.31M
Lighter$4.85M⚡Funding APR
+5.66%
annualized · funding only
⚠Execution Cost
−$34.31
entry + exit fees
⏱Payback
22.1d
to break even
◧24h Volume
Phemex$4.27MLighter$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 (−$34.31 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.