Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.182%

Price spread now: Hyperliquid against Arcus−0.168%7-day average −0.087% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$224as in the Price arb table

costs, in and out, $10k−$2162.158% of the position

Long on Arcus Short on Hyperliquid

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)+0.536%+$54 · spread now −0.168%, 7d avg −0.087%

Together, before fees+0.060%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.081% cheaper against Arcus than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.087%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CASHCAT-USD	0.1626	0.0100	pay 0.0013% / 1h	43m 59s	$113K	$218K	5x
Short	Hyperliquid CASHCAT	0.1623	0.0100	get 0.0013% / 1h	43m 59s	$44.2M	$19.2M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 HyperliquidbpOrdersPrice spread, now −0.168%Rate

Funding earned: $0
Price spread: −0.168% → −0.087%: −$8.1
Slippage, 4 orders: −$202.31
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$223.9
Costs to cover: 2.158%
Break-even: never at this rate

Slippage from Arcus: live order book, 19 min ago; Hyperliquid: live order book, 9 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, 19 min ago	19.00 bp	151.6 bp −$152	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	1.54 bp	7.8 bp −$8	doesn't fit	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	+0.0096%	1h	0.1623	−0.149%	$1.2M	$1.6M	3x	as long as short
Lighter RH CASHCAT	+0.0096%	1h	0.1623	−0.162%	$316K	$821K	3x	as long as short
Nado CASHCAT-PERP	+0.0100%	1h	0.1623	−0.183%	$243K	$185K	5x	as long as short
Hyperliquid CASHCATshort	+0.0100%	1h	0.1623	−0.168%	$44.2M	$19.2M	3x
Arcus CASHCAT-USDlong	+0.0100%	1h	0.1626	long leg	$113K	$218K	5x
Gate CASHCAT_USDT	+0.0100%	4h	0.1622	−0.236%	$1.4M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1623	−0.137%	$551K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1621	−0.321%	$1.2M	$1.5M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1621	−0.291%	$73K	$63K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1623	−0.149%	$65K	$1.2M	3x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX CASHCAT-USDT	+0.0100%	1h	0.1622	−0.230%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1623	−0.174%	$487	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1623	−0.183%	$18K	$349K	10x	as long as short
Extended CASHCAT-USD	+0.0104%	1h	0.1622	−0.208%	$96K	$489K	5x	as long as short
Aster CASHCATUSDT	+0.0256%	1h	0.1622	−0.229%	$542K	$1.0M	10x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0448%	4h	0.1628	+0.140%	$1.3M	$10.4M	20x	as long as short
BloFin CASHCAT-USDT	+0.0689%	4h	0.1627	+0.078%	$52K	$463K	20x	as long as short
MEXC CASHCAT_USDT	+0.0784%	4h	0.1624	−0.094%	$8.1M	$491K	20x	as long as short
Bybit CASHCATUSDT	+0.0788%	4h	0.1625	−0.020%	$12.1M	$17.9M	10x	as long as short
BingX CASHCAT-USDT	+0.0852%	4h	0.1626	+0.017%	—	$1.0M	—	as long as short
edgeX CASHCATUSDC	+0.1280%	4h	0.1616	−0.579%	$49K	$171K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1639	+0.816%	$8K	$18K	5.5x	as long as short