Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0977%/8h= −107.0% APRpaid last 24h −0.072%

Price spread now: SunX against BloFin−0.321%55s7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$375as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3303.304% of the position

Long on BloFin Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.448%−$45 on $10k

Price spread, last 4 days (all we have)+0.763%+$76 · spread now −0.321%, 7d avg −0.047%

Together, before fees+0.315%+$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and SunX is 0.274% cheaper against BloFin than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.047%). Swap the legs. The two prices were read 55 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 7 days it paid -0.448% in total (about -23.3% 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	BloFin CASHCAT-USDT	0.1607	0.1077	pay 0.0538% / 4h	19m 25s	$52K	$505K	20x
Short	SunX CASHCAT-USDT	0.1602	0.0100	get 0.0013% / 1h	19m 25s	—	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against BloFin. 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 BloFinbpFee SunXbpOrdersPrice spread, now −0.321%Rate

Funding earned: −$205.13
Price spread: −0.321% → −0.047%: −$27.43
Slippage, 4 orders: −$310.42
Fee BloFin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$562.98
Costs to cover: 3.304%
Break-even: never at this rate

Slippage from BloFin: live order book, 17 min ago; SunX: live order book, 7 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 BloFin live order book, 17 min ago	9.53 bp	25.2 bp −$25	67.3 bp −$673	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	79.82 bp	136.7 bp −$137	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	0.1600	−0.436%	$1.1M	$1.9M	3x	as long as short
Lighter RH CASHCAT	+0.0096%	1h	0.1603	−0.255%	$314K	$846K	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1601	−0.367%	$43.8M	$20.0M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1601	−0.398%	$1.4M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1601	−0.373%	$559K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1604	−0.211%	$1.1M	$1.7M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1598	−0.591%	$72K	$64K	50x	as long as short
SunX CASHCAT-USDTshort	+0.0100%	1h	0.1602	−0.321%	—	$2.4M	10x
SoDEX CASHCAT-USD	+0.0100%	1h	0.1601	−0.386%	$480	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1609	+0.110%	$18K	$331K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado CASHCAT-PERP	+0.0112%	1h	0.1598	−0.557%	$216K	$202K	5x	as long as short
Bybit CASHCATUSDT	+0.0186%	4h	0.1602	−0.336%	$12.1M	$18.7M	10x	as long as short
MEXC CASHCAT_USDT	+0.0196%	4h	0.1603	−0.236%	$8.0M	$523K	20x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1602	−0.301%	$98K	$608K	5x	as long as short
BingX CASHCAT-USDT	+0.0788%	4h	0.1604	−0.187%	—	$1.0M	—	as long as short
Polymarket Perps CASHCAT-USD	+0.0809%	1h	0.1602	−0.317%	$64K	$1.3M	3x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0833%	4h	0.1602	−0.311%	$1.4M	$11.0M	20x	as long as short
BloFin CASHCAT-USDTlong	+0.1077%	4h	0.1607	long leg	$52K	$505K	20x
edgeX CASHCATUSDC	+0.1175%	4h	0.1603	−0.275%	$48K	$169K	5x	as long as short
Aster CASHCATUSDT	+0.1955%	1h	0.1602	−0.297%	$532K	$1.1M	10x	as long as short
Arcus CASHCAT-USD	+0.2181%	1h	0.1601	−0.370%	$96K	$263K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1618	+0.685%	$8K	$18K	5.5x	as long as short