Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Hyperliquid against BingX+0.017%7-day average +0.090% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.257%+$26 on $10k

Price spread, last 7 days+0.029%+$3 · spread now +0.017%, 7d avg +0.090%

Together, before fees+0.286%+ Points / potential airdropHyperliquid: Season 2 · farm board+$29 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 0.072% cheaper against BingX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX CASHCAT-USDT	0.1738	0.0100	pay 0.0050% / 4h	1h 50m	—	$1.0M	—
Short	Hyperliquid CASHCAT	0.1738	0.0100	get 0.0013% / 1h	50m 50s	$49.3M	$18.9M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.017%Rate

Funding earned: $0
Price spread: +0.017% → +0.090%: −$7.25
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$26.25
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 4 min ago; Hyperliquid: live order book, 13 min ago. Net counts fees only.

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 BingX live order book, 4 min ago	11.57 bp	30.4 bp −$30	77.7 bp −$777	913.4 bp −$91.3K	1282.0 bp −$641.0K
Sell Hyperliquid live order book, 13 min ago	1.17 bp	doesn't fit	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	0.1736	−0.098%	$1.2M	$1.9M	3x	as long as short
Hyperliquid CASHCATshort	+0.0100%	1h	0.1738	+0.017%	$49.3M	$18.9M	3x
Bybit CASHCATUSDT	+0.0100%	4h	0.1739	+0.058%	$13.0M	$18.6M	10x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0100%	4h	0.1739	+0.058%	$1.1M	$10.9M	20x	as long as short
Arcus CASHCAT-USD	+0.0100%	1h	0.1722	−0.925%	$101K	$185K	5x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1736	−0.127%	$1.5M	$2.0M	20x	as long as short
MEXC CASHCAT_USDT	+0.0100%	4h	0.1738	−0.006%	$8.6M	$463K	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1735	−0.190%	$588K	$2.4M	10x	as long as short
BingX CASHCAT-USDTlong	+0.0100%	4h	0.1738	long leg	—	$1.0M	—
Variational Omni CASHCAT	+0.0100%	4h	0.1725	−0.765%	$1.4M	$1.7M	—	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1724	−0.811%	$78K	$72K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1730	−0.475%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1732	−0.339%	$520	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1727	−0.644%	$18K	$410K	10x	as long as short
BloFin CASHCAT-USDT	+0.0340%	4h	0.1733	−0.288%	$50K	$503K	20x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1738	+0.009%	$95K	$471K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0619%	1h	0.1731	−0.380%	$66K	$1.3M	3x	as long as short
Nado CASHCAT-PERP	+0.0622%	1h	0.1728	−0.598%	$244K	$158K	5x	as long as short
Lighter RH CASHCAT	+0.0776%	1h	0.1736	−0.098%	$336K	$785K	3x	as long as short
edgeX CASHCATUSDC	+0.0867%	4h	0.1727	−0.647%	$52K	$171K	5x	as long as short
Aster CASHCATUSDT	+0.1272%	1h	0.1733	−0.265%	$567K	$1.2M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1746	+0.460%	$12K	$9K	5.5x	as long as short