Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0046%/8h= +5.1% APRpaid last 24h −0.010%

Price spread now: Bybit against Hyperliquid+0.011%7-day average −0.001% · you sell dearer than you buy

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

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.333%−$33 on $10k

Price spread, last 7 days+0.012%+$1 · spread now +0.011%, 7d avg −0.001%

Together, before fees−0.321%+ Points / potential airdropHyperliquid: Season 2 · farm board−$32 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.333%, 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	0.1762	0.0100	pay 0.0013% / 1h	32m 12s	$49.7M	$18.4M	3x
Short	Bybit CASHCATUSDT	0.1762	0.0146	get 0.0073% / 4h	32m 12s	$13.2M	$18.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.011%Rate

Funding earned: $9.74
Price spread: +0.011% → −0.001%: $1.19
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$9.07
Costs to cover: 0.200%
Break-even: 13.5 days

Slippage unknown: Hyperliquid: live order book, 11 min ago; Bybit: live order book, 1 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, 11 min ago	5.39 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	1.42 bp	42.2 bp −$42	119.2 bp −$1,192	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
Hyperliquid CASHCATlong	+0.0100%	1h	0.1762	long leg	$49.7M	$18.4M	3x
OKX CASHCAT-USDT-SWAP	+0.0100%	4h	0.1762	+0.023%	$1.1M	$10.5M	20x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1759	−0.165%	$1.5M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1761	−0.057%	$595K	$2.3M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1757	−0.241%	$1.5M	$1.6M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1755	−0.358%	$79K	$72K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1761	−0.021%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1760	−0.068%	$528	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1766	+0.274%	$19K	$391K	10x	as long as short
Bybit CASHCATUSDTshort	+0.0146%	4h	0.1762	+0.011%	$13.2M	$18.1M	10x

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC CASHCAT_USDT	+0.0156%	4h	0.1761	−0.040%	$8.8M	$465K	20x	as long as short
BingX CASHCAT-USDT	+0.0206%	4h	0.1761	−0.034%	—	$1.0M	—	as long as short
BloFin CASHCAT-USDT	+0.0340%	4h	0.1761	−0.034%	$50K	$495K	20x	as long as short
Nado CASHCAT-PERP	+0.0372%	1h	0.1758	−0.179%	$248K	$155K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0383%	1h	0.1762	+0.017%	$66K	$1.2M	3x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1762	−0.005%	$102K	$466K	5x	as long as short
Lighter RH CASHCAT	+0.0928%	1h	0.1762	+0.011%	$336K	$822K	3x	as long as short
edgeX CASHCATUSDC	+0.1041%	4h	0.1758	−0.182%	$53K	$172K	5x	as long as short
Lighter CASHCAT	+0.1776%	1h	0.1763	+0.057%	$1.3M	$1.9M	3x	as long as short
Arcus CASHCAT-USD	+0.1786%	1h	0.1759	−0.176%	$121K	$215K	5x	as long as short
Aster CASHCATUSDT	+0.3128%	1h	0.1760	−0.101%	$577K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1855	+5.302%	$12K	$9K	5.5x	as long as short