Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.3339%/8h= −365.7% APRpaid last 24h −0.165%

Price spread now: OKX against Arcus−0.049%47s7-day average −0.062% · 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—prices read too far apart to compare

costs, in and out, $10k−$2232.228% of the position

Long on Arcus Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.511%−$51 on $10k

Price spread, last 4 days (all we have)+0.328%+$33 · spread now −0.049%, 7d avg −0.062%

Together, before fees−0.182%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.062%, so right now this pair is about funding alone: −$100 a day on $10k at the current rate. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.511% in total (about -49.5% 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	0.1689	0.3849	pay 0.0481% / 1h	38m 52s	$104K	$313K	5x
Short	OKX CASHCAT-USDT-SWAP	0.1688	0.0510	get 0.0255% / 4h	3h 38m	$1.4M	$12.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$701.28
Price spread: −0.049% → −0.062%: $1.34
Slippage, 4 orders: −$208.3
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$922.74
Costs to cover: 2.228%
Break-even: never at this rate

Slippage from Arcus: live order book, 60 min ago; OKX: live order book, 4 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, 60 min ago	35.16 bp	130.5 bp −$130	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	5.94 bp	23.4 bp −$23	81.7 bp −$817	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 RH CASHCAT	+0.0096%	1h	0.1688	−0.025%	$349K	$944K	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1687	−0.090%	$46.5M	$20.6M	3x	as long as short
Bybit CASHCATUSDT	+0.0100%	4h	0.1688	−0.054%	$12.7M	$19.2M	10x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1685	−0.232%	$1.5M	$1.8M	20x	as long as short
MEXC CASHCAT_USDT	+0.0100%	4h	0.1686	−0.161%	$8.5M	$532K	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1684	−0.274%	$598K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1686	−0.142%	$1.1M	$1.8M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1690	+0.052%	$77K	$60K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1686	−0.167%	$66K	$1.3M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1689	+0.023%	—	$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
HTX CASHCAT-USDT	+0.0100%	1h	0.1725	+2.124%	$23K	$253K	10x	as long as short
SoDEX CASHCAT-USD	+0.0116%	1h	0.1689	−0.019%	$507	$1K	3x	as long as short
Lighter CASHCAT	+0.0408%	1h	0.1688	−0.060%	$1.1M	$1.7M	3x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1686	−0.189%	$242K	$886K	5x	as long as short
OKX CASHCAT-USDT-SWAPshort	+0.0510%	4h	0.1688	−0.049%	$1.4M	$12.9M	20x
BingX CASHCAT-USDT	+0.0522%	4h	0.1688	−0.049%	—	$1.1M	—	as long as short
BloFin CASHCAT-USDT	+0.0750%	4h	0.1689	+0.011%	$53K	$598K	20x	as long as short
edgeX CASHCATUSDC	+0.0929%	4h	0.1688	−0.029%	$51K	$168K	5x	as long as short
Nado CASHCAT-PERP	+0.1537%	1h	0.1685	−0.226%	$250K	$204K	5x	as long as short
Arcus CASHCAT-USDlong	+0.3849%	1h	0.1689	long leg	$104K	$313K	5x
Aster CASHCATUSDT	+0.4194%	1h	0.1689	+0.033%	$548K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1712	+1.373%	$8K	$18K	5.5x	as long as short