Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.4288%/8h= +469.6% APRpaid last 24h +1.357%

Price spread now: Injective against Bybit+0.850%98s7-day average — · you sell dearer than you buy

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

Long on Bybit 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 +$129 a day on $10k at the current rate, and Injective is 0.850% dearer against Bybit than usual: you sell high and buy low: +$85 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 98 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	Bybit CASHCATUSDT	0.1636	0.0712	pay 0.0356% / 4h	1h 37m	$12.2M	$17.9M	10x
Short	Injective CASHCAT/USDC PERP	0.1650	0.5000	get 0.0625% / 1h	37m 42s	$8K	$18K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bybit. 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 BybitbpFee InjectivebpOrdersPrice spread, now +0.850%Rate

Funding earned: $900.56
Price spread: +0.850% → 0.000%: $84.96
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $974.49
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 1 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 Bybit live order book, 1 min ago	2.14 bp	35.9 bp −$36	103.3 bp −$1,033	doesn't fit	doesn't fit
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
Nado CASHCAT-PERP	+0.0100%	1h	0.1636	−0.012%	$245K	$185K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1637	+0.050%	$44.6M	$19.2M	3x	as long as short
Arcus CASHCAT-USD	+0.0100%	1h	0.1636	+0.012%	$113K	$218K	5x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1635	−0.079%	$1.4M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1635	−0.086%	$556K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1633	−0.212%	$1.2M	$1.6M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1633	−0.220%	$74K	$63K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1637	+0.079%	$66K	$1.2M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1636	+0.017%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1636	0.000%	$491	$1K	3x	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	0.1637	+0.050%	$18K	$348K	10x	as long as short
Extended CASHCAT-USD	+0.0104%	1h	0.1634	−0.144%	$100K	$492K	5x	as long as short
Lighter CASHCAT	+0.0376%	1h	0.1637	+0.079%	$1.2M	$1.7M	3x	as long as short
Lighter RH CASHCAT	+0.0448%	1h	0.1637	+0.067%	$319K	$823K	3x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0490%	4h	0.1637	+0.055%	$1.3M	$10.5M	20x	as long as short
Aster CASHCATUSDT	+0.0526%	1h	0.1637	+0.030%	$547K	$1.0M	10x	as long as short
MEXC CASHCAT_USDT	+0.0710%	4h	0.1637	+0.079%	$8.1M	$494K	20x	as long as short
Bybit CASHCATUSDTlong	+0.0712%	4h	0.1636	long leg	$12.2M	$17.9M	10x
BloFin CASHCAT-USDT	+0.0723%	4h	0.1639	+0.177%	$52K	$466K	20x	as long as short
BingX CASHCAT-USDT	+0.0748%	4h	0.1637	+0.055%	—	$1.0M	—	as long as short
edgeX CASHCATUSDC	+0.1422%	4h	0.1631	−0.295%	$49K	$170K	5x	as long as short
Injective CASHCAT/USDC PERPshort	+0.5000%	1h	0.1650	+0.850%	$8K	$18K	5.5x