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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 ~13d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+24.98%
3d Period Avg+54.68%
swing±55.28%
LONG Phemex · now
+10.96%
3d avg:+10.89%
SHORT Lighter · now
+35.94%
3d avg:+65.57%
Entry Spread Now
+0.015%
In your favorL ask 0.5427 · S bid 0.5428+$1.47 at entry
24h range −0.14%…+0.33% · median +0.13%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$50.94
−0.51%
$Avg Daily PnL
+$13.50
+0.1350%
★Best Day
+$20.91
Sep 26
◎Open Interest
Phemex$2.14M
Lighter$7.40M⚡Funding APR
+49.29%
annualized · funding only
⚠Execution Cost
−$91.45
entry + exit fees
⏱Payback
6.8d
to break even
◧24h Volume
Phemex$4.40MLighter$5.58MLoading 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 (−$91.45 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.