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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 ~3.0d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+24.98%
3d Period Avg+52.69%
swing±55.95%
LONG Variational · now
+10.96%
3d avg:+12.88%
SHORT Lighter · now
+35.94%
3d avg:+65.57%
Entry Spread Now
−0.017%
Against youL ask 0.5448 · S bid 0.5447−$1.65 at entry
24h range −1.25%…+0.83% · median +0.06%
Long pays every8hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$18.72
+0.19%
$Avg Daily PnL
+$13.01
+0.1301%
★Best Day
+$19.44
Sep 26
◎Open Interest
Variational$5.31M
Lighter$7.40M⚡Funding APR
+47.50%
annualized · funding only
⚠Execution Cost
−$20.32
entry + exit fees
⏱Payback
1.6d
to break even
◧24h Volume
Variational$10.78MLighter$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 (−$20.32 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.