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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 ~7.5d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+9.20%
7d Period Avg+33.08%
swing±45.09%
LONG Phemex · now
+10.96%
7d avg:+10.93%
SHORT Lighter · now
+20.16%
7d avg:+44.01%
Entry Spread Now
+0.134%
In your favorL 0.5440 · S 0.5447+$13.42 if it converges
24h range −0.14%…+0.33% · median +0.14%
Long pays every8hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$44.54
+0.45%
$Avg Daily PnL
+$9.06
+0.0906%
★Best Day
+$20.91
Sep 26
◎Open Interest
Phemex$2.18M
Lighter$7.46M⚡Funding APR
+33.05%
annualized · funding only
⚠Execution Cost
−$18.85
entry + exit fees
⏱Payback
2.1d
to break even
◧24h Volume
Phemex$4.42MLighter$5.60MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (−$18.85 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.