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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 ~8.2d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+7.78%
7d Period Avg+31.06%
swing±37.35%
LONG Variational · now
+2.74%
7d avg:+4.80%
SHORT Lighter · now
+10.52%
7d avg:+35.86%
Entry Spread Now
+0.035%
In your favorL ask 9.6162 · S bid 9.6196+$3.53 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
+$42.03
+0.42%
$Avg Daily PnL
+$8.51
+0.0851%
★Best Day
+$20.45
Sep 21
◎Open Interest
Variational$5.77M
Lighter$4.95M⚡Funding APR
+31.04%
annualized · funding only
⚠Execution Cost
−$17.51
entry + exit fees
⏱Payback
2.1d
to break even
◧24h Volume
Variational$1.73MLighter$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 (−$17.51 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.