Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.3163%/8h= −346.4% APRpaid last 24h −0.064%

Price spread now: Bybit against Aster+0.256%7-day average +0.127% · 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−$115as in the Price arb table

costs, in and out, $10k−$1281.279% of the position

Long on Aster Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.774%−$77 on $10k

Price spread, last 7 days−0.151%−$15 · spread now +0.256%, 7d avg +0.127%

Together, before fees−0.924%+ Points / potential airdropAster: Stage 5 · farm board−$92 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.129% dearer against Aster than usual: you sell high and buy low (spread +0.256% now, against its 7-day average of +0.127%): +$13 on $10k if it goes back. Holding the pair costs −$95 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 5 days (−0.774% in total) that is about 21 hours.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.774% in total (about -53.0% 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	Aster CASHCATUSDT	0.1731	0.3263	pay 0.0408% / 1h	7m 42s	$571K	$1.1M	10x
Short	Bybit CASHCATUSDT	0.1735	0.0100	get 0.0050% / 4h	7m 42s	$13.0M	$18.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aster. 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 AsterbpFee BybitbpOrdersPrice spread, now +0.256%Rate

Funding earned: −$664.24
Price spread: +0.256% → +0.127%: $12.94
Slippage, 4 orders: −$108.9
Fee Aster: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$779.19
Costs to cover: 1.279%
Break-even: never at this rate

Slippage from Aster: live order book, just now; Bybit: live order book, 1 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 Aster live order book, just now	7.51 bp	20.8 bp −$21	168.5 bp −$1,685	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	4.04 bp	43.8 bp −$44	119.9 bp −$1,199	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
Hyperliquid CASHCAT	+0.0100%	1h	0.1732	+0.106%	$48.7M	$18.6M	3x	as long as short
Bybit CASHCATUSDTshort	+0.0100%	4h	0.1735	+0.256%	$13.0M	$18.2M	10x
OKX CASHCAT-USDT-SWAP	+0.0100%	4h	0.1733	+0.141%	$1.1M	$10.5M	20x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1729	−0.102%	$1.5M	$2.0M	20x	as long as short
MEXC CASHCAT_USDT	+0.0100%	4h	0.1733	+0.158%	$8.6M	$472K	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1729	−0.085%	$587K	$2.4M	10x	as long as short
BingX CASHCAT-USDT	+0.0100%	4h	0.1733	+0.141%	—	$1.0M	—	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1730	−0.038%	$1.5M	$1.5M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1724	−0.408%	$78K	$72K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1725	−0.330%	—	$2.6M	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	0.1727	−0.200%	$518	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1723	−0.446%	$18K	$387K	10x	as long as short
Polymarket Perps CASHCAT-USD	+0.0337%	1h	0.1724	−0.368%	$67K	$1.2M	3x	as long as short
BloFin CASHCAT-USDT	+0.0340%	4h	0.1731	+0.025%	$50K	$489K	20x	as long as short
Lighter RH CASHCAT	+0.0480%	1h	0.1732	+0.095%	$335K	$838K	3x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1732	+0.083%	$100K	$466K	5x	as long as short
edgeX CASHCATUSDC	+0.0631%	4h	0.1730	−0.041%	$52K	$171K	5x	as long as short
Nado CASHCAT-PERP	+0.0652%	1h	0.1721	−0.524%	$244K	$157K	5x	as long as short
Lighter CASHCAT	+0.1344%	1h	0.1733	+0.158%	$1.2M	$1.9M	3x	as long as short
Arcus CASHCAT-USD	+0.1786%	1h	0.1729	−0.102%	$119K	$216K	5x	as long as short
Aster CASHCATUSDTlong	+0.3263%	1h	0.1731	long leg	$571K	$1.1M	10x
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1754	+1.354%	$9K	$12K	5.5x	as long as short