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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
−16.66%
3d Period Avg+29.04%
swing±24.87%
LONG Lighter · now
+44.71%
3d avg:+16.29%
SHORT Coinbase International · nowZEC-PERP
+28.05%
3d avg:+45.33%
Entry Spread Now
−0.134%
Against youL ask 1,576.87 · S bid 1,574.76−$13.40 at entry
24h range −0.12%…+0.06% · median −0.04%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
−$4.19
−0.04%
$Avg Daily PnL
+$7.95
+0.0795%
★Best Day
+$11.99
Sep 26
◎Open Interest
Lighter$23.47M
Coinbase International$3.49M⚡Funding APR
+29.02%
annualized · funding only
⚠Execution Cost
−$28.04
entry + exit fees
⏱Payback
3.5d
to break even
◧24h Volume
Lighter$30.08MCoinbase International$7.35MLoading 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 (−$28.04 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.