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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%
7d Period Avg+24.90%
swing±36.83%
LONG Phemex · now
+10.96%
7d avg:+10.96%
SHORT Lighter · now
+10.52%
7d avg:+35.86%
Entry Spread Now
+0.088%
In your favorL ask 9.6020 · S bid 9.6105+$8.85 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
+$15.20
+0.15%
$Avg Daily PnL
+$6.82
+0.0682%
★Best Day
+$17.51
Sep 21
◎Open Interest
Phemex$28.24M
Lighter$4.94M⚡Funding APR
+24.89%
annualized · funding only
⚠Execution Cost
−$32.53
entry + exit fees
⏱Payback
4.8d
to break even
◧24h Volume
Phemex$4.30MLighter$4.64MLoading 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 (−$32.53 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.