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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 ~15d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+4.38%
3d Period Avg+11.61%
swing±6.00%
LONG Coinbase International · nowXRP-PERP
+3.51%
3d avg:−2.59%
SHORT Lighter · now
+7.89%
3d avg:+9.02%
Entry Spread Now
−0.054%
Against youL ask 1.5124 · S bid 1.5116−$5.42 at entry
24h range −0.18%…+0.11% · median −0.03%
Long pays every1hShort pays every1h
LONGmaker0.020%/taker0.040%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$8.17
−0.08%
$Avg Daily PnL
+$3.18
+0.0318%
★Best Day
+$4.58
Sep 25
◎Open Interest
Coinbase International$4.68M
Lighter$2.32M⚡Funding APR
+11.61%
annualized · funding only
⚠Execution Cost
−$17.71
entry + exit fees
⏱Payback
5.6d
to break even
◧24h Volume
Coinbase International$14.46MLighter$3.61MLoading 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 (−$17.71 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.