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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 ~31d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+2.63%
7d Period Avg+26.39%
swing±20.82%
LONG Lighter · now
+26.30%
7d avg:+15.13%
SHORT Coinbase International · nowZEC-PERP
+28.93%
7d avg:+41.52%
Entry Spread Now
−0.139%
Against youL ask 1,587.06 · S bid 1,584.86−$13.87 at entry
24h range −0.12%…+0.12% · median −0.04%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.020%/taker0.040%
Loading Funding History…
↗Total PnL
+$27.95
+0.28%
$Avg Daily PnL
+$7.23
+0.0723%
★Best Day
+$12.30
Sep 25
◎Open Interest
Lighter$23.57M
Coinbase International$3.49M⚡Funding APR
+26.37%
annualized · funding only
⚠Execution Cost
−$22.63
entry + exit fees
⏱Payback
3.1d
to break even
◧24h Volume
Lighter$29.57MCoinbase International$7.34MLoading 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 (−$22.63 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.