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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 ~221d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.44%
7d Period Avg+25.92%
swing±48.90%
LONG Lighter · now
+10.52%
7d avg:−14.96%
SHORT Variational · now
+10.96%
7d avg:+10.96%
Entry Spread Now
−0.103%
Eaten by executionL 0.1063 · S 0.1062−$10.35 if it converges
24h range −1.46%…+1.10% · median −0.06%
Long pays every1hShort pays every4h
LONGmaker0%/taker0%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
+$14.65
+0.15%
$Avg Daily PnL
+$5.89
+0.0589%
★Best Day
+$14.74
Sep 21
◎Open Interest
Lighter$6.69M
Variational$4.36M⚡Funding APR
+21.50%
annualized · funding only
⚠Execution Cost
−$26.59
entry + exit fees
⏱Payback
4.5d
to break even
◧24h Volume
Lighter$3.59MVariational$4.18MLoading 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 (−$26.59 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.