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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−12.85%
7d Period Avg+2.37%
swing±5.27%
LONG Lighter · now
+14.03%
7d avg:+8.37%
SHORT Pionex · nowXAU_USDT_PERP
+1.17%
7d avg:+10.74%
Entry Spread Now
+0.005%
In your favorL ask 4,269.4 · S bid 4,269.63+$0.54 at entry
24h range −0.01%…+0.11% · median +0.04%
Long pays every1hShort pays every4h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.050%
Loading Funding History…
↗Total PnL
−$6.43
−0.06%
$Avg Daily PnL
+$0.71
+0.0071%
★Best Day
+$2.62
Sep 21
◎Open Interest
Lighter$18.54M
Pionex$7.04M⚡Funding APR
+2.60%
annualized · funding only
⚠Execution Cost
−$11.42
entry + exit fees
⏱Payback
16.0d
to break even
◧24h Volume
Lighter$8.28MPionex$1.25MLoading 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 (−$11.42 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.