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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%
7d Period Avg+26.74%
swing±30.76%
LONG Coinbase International · nowUNI-PERP
+13.15%
7d avg:+9.12%
SHORT Lighter · now
+10.52%
7d avg:+35.86%
Entry Spread Now
+0.026%
In your favorL ask 9.6080 · S bid 9.6105+$2.60 at entry
24h range −0.02%…+0.33% · median +0.11%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.040%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$18.18
+0.18%
$Avg Daily PnL
+$7.32
+0.0732%
★Best Day
+$15.38
Sep 21
◎Open Interest
Coinbase International$1.39M
Lighter$4.93M⚡Funding APR
+26.72%
annualized · funding only
⚠Execution Cost
−$33.07
entry + exit fees
⏱Payback
4.5d
to break even
◧24h Volume
Coinbase International$3.40MLighter$4.65MLoading 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 (−$33.07 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.