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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 ~190d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.21%
3d Period Avg−1.19%
swing±4.11%
LONG Lighter · now
+14.90%
3d avg:+5.36%
SHORT Pionex · nowXAU_USDT_PERP
+15.11%
3d avg:+4.17%
Entry Spread Now
+0.038%
In your favorL ask 4,238.16 · S bid 4,239.76+$3.78 at entry
24h range −0.10%…+0.11% · median +0.04%
Long pays every1hShort pays every4h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$11.78
−0.12%
$Avg Daily PnL
−$0.29
−0.0029%
★Best Day
+$0.31
Sep 25
◎Open Interest
Lighter$19.86M
Pionex$7.13M⚡Funding APR
−1.06%
annualized · funding only
⚠Execution Cost
−$10.91
entry + exit fees
⏱Payback
never
to break even
◧24h Volume
Lighter$13.73MPionex$2.14MLoading 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 (−$10.91 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.