Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.003%

Price spread now: BingX against Hyperliquid+0.028%7-day average −0.088% · you sell dearer than you buy

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

Long on Hyperliquid Short on BingX

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−0.087%−$9 · spread now +0.028%, 7d avg −0.088%

Together, before fees−0.344%+ Points / potential airdropHyperliquid: Season 2 · farm board−$34 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BingX is 0.117% dearer against Hyperliquid than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.088%. Mind the row above: over the last 7 days funding on this pair cost −0.257%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid CASHCAT	0.1764	0.0100	pay 0.0013% / 1h	30m 30s	$49.8M	$18.4M	3x
Short	BingX CASHCAT-USDT	0.1764	0.0168	get 0.0084% / 4h	30m 30s	—	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Hyperliquid. 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 HyperliquidbpFee BingXbpOrdersPrice spread, now +0.028%Rate

Funding earned: $14.28
Price spread: +0.028% → −0.088%: $11.68
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: $6.96
Costs to cover: 0.190%
Break-even: 3.6 days

Slippage unknown: Hyperliquid: live order book, 3 min ago; BingX: live order book, 9 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 Hyperliquid live order book, 3 min ago	2.84 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	2.84 bp	28.4 bp −$28	71.5 bp −$715	433.1 bp −$43.3K	902.1 bp −$451.1K

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 CASHCATlong	+0.0100%	1h	0.1764	long leg	$49.8M	$18.4M	3x
OKX CASHCAT-USDT-SWAP	+0.0100%	4h	0.1763	−0.028%	$1.1M	$10.5M	20x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1759	−0.272%	$1.5M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1761	−0.159%	$595K	$2.3M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1762	−0.088%	$1.5M	$1.6M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1759	−0.267%	$79K	$72K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1761	−0.135%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1760	−0.181%	$528	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1766	+0.166%	$19K	$391K	10x	as long as short
Bybit CASHCATUSDT	+0.0125%	4h	0.1765	+0.062%	$13.2M	$18.1M	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC CASHCAT_USDT	+0.0134%	4h	0.1763	−0.040%	$8.8M	$467K	20x	as long as short
BingX CASHCAT-USDTshort	+0.0168%	4h	0.1764	+0.028%	—	$1.0M	—
BloFin CASHCAT-USDT	+0.0340%	4h	0.1762	−0.085%	$50K	$496K	20x	as long as short
Polymarket Perps CASHCAT-USD	+0.0384%	1h	0.1764	+0.017%	$66K	$1.2M	3x	as long as short
Nado CASHCAT-PERP	+0.0403%	1h	0.1762	−0.085%	$249K	$155K	5x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1760	−0.175%	$102K	$466K	5x	as long as short
Lighter RH CASHCAT	+0.0896%	1h	0.1761	−0.142%	$336K	$823K	3x	as long as short
edgeX CASHCATUSDC	+0.1110%	4h	0.1763	−0.018%	$53K	$172K	5x	as long as short
Lighter CASHCAT	+0.1768%	1h	0.1762	−0.113%	$1.3M	$1.9M	3x	as long as short
Arcus CASHCAT-USD	+0.1786%	1h	0.1758	−0.287%	$121K	$215K	5x	as long as short
Aster CASHCATUSDT	+0.3312%	1h	0.1761	−0.130%	$578K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1855	+5.189%	$12K	$9K	5.5x	as long as short