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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 ~11d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+6.78%
3d Period Avg+9.55%
swing±16.70%
LONG Variational · now
+3.74%
3d avg:+7.73%
SHORT Lighter · now
+10.52%
3d avg:+17.28%
Entry Spread Now
+0.126%
In your favorL ask 9.6633 · S bid 9.6755+$12.61 at entry
24h range −0.26%…+0.61% · median +0.18%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$13.14
−0.13%
$Avg Daily PnL
+$2.54
+0.0254%
★Best Day
+$3.81
Sep 26
◎Open Interest
Variational$5.78M
Lighter$4.86M⚡Funding APR
+9.27%
annualized · funding only
⚠Execution Cost
−$20.76
entry + exit fees
⏱Payback
8.2d
to break even
◧24h Volume
Variational$1.48MLighter$4.46MLoading 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 (−$20.76 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.