Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.2045%/8h= −223.9% APRpaid last 24h −0.193%

Price spread now: Bybit against Arcus+0.676%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$209as in the Price arb table

costs, in and out, $10k−$2802.802% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.476%−$48 on $10k

Price spread, last 4 days (all we have)−0.627%−$63 · spread now +0.676%, 7d avg −0.037%

Together, before fees−1.103%−$110 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.713% dearer against Arcus than usual: you sell high and buy low (spread +0.676% now, against its 7-day average of −0.037%): +$71 on $10k if it goes back. Holding the pair costs −$61 a day in funding at the current rate, which eats that in about 28 hours. At the pace of the last 4 days (−0.476% in total) that is about 5.5 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.476% in total (about -47.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CASHCAT-USD	0.1600	0.2390	pay 0.0299% / 1h	20m 02s	$99K	$275K	5x
Short	Bybit CASHCATUSDT	0.1610	0.0345	get 0.0172% / 4h	2h 20m	$12.0M	$19.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Arcus. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ArcusbpFee BybitbpOrdersPrice spread, now +0.676%Rate

Funding earned: −$429.48
Price spread: +0.676% → −0.037%: $71.31
Slippage, 4 orders: −$264.69
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$638.37
Costs to cover: 2.802%
Break-even: never at this rate

Slippage from Arcus: live order book, 28 min ago; Bybit: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Arcus live order book, 28 min ago	18.97 bp	123.8 bp −$124	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	4.41 bp	42.7 bp −$43	120.0 bp −$1,200	doesn't fit	doesn't fit

CASHCAT on 22 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter CASHCAT	−0.0624%	1h	0.1603	+0.194%	$1.1M	$1.9M	3x	as long as short
Lighter RH CASHCAT	+0.0096%	1h	0.1604	+0.288%	$347K	$946K	3x	as long as short
Nado CASHCAT-PERP	+0.0100%	1h	0.1602	+0.123%	$205K	$193K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1607	+0.444%	$43.9M	$20.1M	3x	as long as short
Aster CASHCATUSDT	+0.0100%	1h	0.1600	+0.026%	$538K	$1.1M	10x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1604	+0.282%	$1.4M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1611	+0.695%	$568K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1601	+0.096%	$1.0M	$1.8M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1589	−0.643%	$72K	$64K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1604	+0.258%	—	$2.4M	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CASHCAT-USD	+0.0100%	1h	0.1604	+0.301%	$481	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1604	+0.298%	$19K	$304K	10x	as long as short
Bybit CASHCATUSDTshort	+0.0345%	4h	0.1610	+0.676%	$12.0M	$19.0M	10x
MEXC CASHCAT_USDT	+0.0352%	4h	0.1607	+0.438%	$8.0M	$521K	20x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1604	+0.283%	$100K	$747K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0636%	1h	0.1605	+0.326%	$64K	$1.3M	3x	as long as short
BingX CASHCAT-USDT	+0.0998%	4h	0.1610	+0.651%	—	$1.0M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.1106%	4h	0.1610	+0.651%	$1.4M	$11.7M	20x	as long as short
edgeX CASHCATUSDC	+0.1326%	4h	0.1587	−0.777%	$48K	$169K	5x	as long as short
BloFin CASHCAT-USDT	+0.1377%	4h	0.1593	−0.412%	$52K	$535K	20x	as long as short
Arcus CASHCAT-USDlong	+0.2390%	1h	0.1600	long leg	$99K	$275K	5x
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1606	+0.401%	$8K	$18K	5.5x	as long as short