Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.4200%/8h= +459.9% APRpaid last 24h +1.341%

Price spread now: Injective against BingX+1.141%57s7-day average — · you sell dearer than you buy

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

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$126 a day on $10k at the current rate, and Injective is 1.141% dearer against BingX than usual: you sell high and buy low: +$114 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX CASHCAT-USDT	0.1665	0.0800	pay 0.0400% / 4h	42m 23s	—	$1.1M	—
Short	Injective CASHCAT/USDC PERP	0.1684	0.5000	get 0.0625% / 1h	42m 23s	$8K	$18K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.141%Rate

Funding earned: $882
Price spread: +1.141% → 0.000%: $114.11
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $986.09
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 2 min ago; Injective: no order-book sample. 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, 2 min ago	6.03 bp	24.5 bp −$25	71.1 bp −$711	487.8 bp −$48.8K	927.2 bp −$463.6K
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.1659	−0.336%	$1.1M	$1.8M	3x	as long as short
Lighter RH CASHCAT	+0.0096%	1h	0.1659	−0.336%	$353K	$955K	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1663	−0.102%	$45.7M	$20.4M	3x	as long as short
Bybit CASHCATUSDT	+0.0100%	4h	0.1667	+0.114%	$12.5M	$19.1M	10x	as long as short
Arcus CASHCAT-USD	+0.0100%	1h	0.1662	−0.178%	$119K	$296K	5x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1661	−0.252%	$1.5M	$2.0M	20x	as long as short
MEXC CASHCAT_USDT	+0.0100%	4h	0.1665	−0.012%	$8.3M	$527K	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1661	−0.240%	$580K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1662	−0.173%	$1.1M	$1.8M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1654	−0.637%	$75K	$60K	50x	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	0.1666	+0.030%	—	$2.4M	10x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1663	−0.145%	$22K	$279K	10x	as long as short
SoDEX CASHCAT-USD	+0.0272%	1h	0.1665	+0.024%	$500	$1K	3x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1666	+0.034%	$208K	$853K	5x	as long as short
Aster CASHCATUSDT	+0.0602%	1h	0.1659	−0.342%	$554K	$1.1M	10x	as long as short
edgeX CASHCATUSDC	+0.0789%	4h	0.1663	−0.110%	$50K	$169K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0799%	1h	0.1663	−0.108%	$65K	$1.3M	3x	as long as short
BingX CASHCAT-USDTlong	+0.0800%	4h	0.1665	long leg	—	$1.1M	—
OKX CASHCAT-USDT-SWAP	+0.0838%	4h	0.1665	0.000%	$1.4M	$12.6M	20x	as long as short
BloFin CASHCAT-USDT	+0.1075%	4h	0.1658	−0.420%	$52K	$565K	20x	as long as short
Nado CASHCAT-PERP	+0.1418%	1h	0.1659	−0.369%	$245K	$216K	5x	as long as short
Injective CASHCAT/USDC PERPshort	+0.5000%	1h	0.1684	+1.141%	$8K	$18K	5.5x