Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: KuCoin against Hyperliquid−0.068%7-day average −0.096% · you buy dearer than you sell

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

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.372%−$37 on $10k

Price spread, last 7 days+0.147%+$15 · spread now −0.068%, 7d avg −0.096%

Together, before fees−0.225%+ Points / potential airdropHyperliquid: Season 2 · farm board−$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.028% dearer against Hyperliquid than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.096%.

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	50m 51s	$49.7M	$18.4M	3x
Short	KuCoin CASHCATUSDTM	0.1761	0.0100	get 0.0050% / 4h	50m 51s	$595K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.068%Rate

Funding earned: $0
Price spread: −0.068% → −0.096%: $2.8
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$18.2
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 13 min ago; KuCoin: live order book, 6 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, 13 min ago	0.57 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	6.82 bp	80.8 bp −$81	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
Hyperliquid CASHCATlong	+0.0100%	1h	0.1762	long leg	$49.7M	$18.4M	3x
OKX CASHCAT-USDT-SWAP	+0.0100%	4h	0.1761	−0.040%	$1.1M	$10.7M	20x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1761	−0.068%	$1.5M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTMshort	+0.0100%	4h	0.1761	−0.068%	$595K	$2.4M	10x
Variational Omni CASHCAT	+0.0100%	4h	0.1756	−0.314%	$1.5M	$1.6M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1759	−0.136%	$79K	$72K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1761	−0.035%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1761	−0.068%	$528	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1760	−0.108%	$19K	$395K	10x	as long as short
Nado CASHCAT-PERP	+0.0217%	1h	0.1760	−0.096%	$248K	$155K	5x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CASHCATUSDT	+0.0225%	4h	0.1764	+0.125%	$13.2M	$18.1M	10x	as long as short
BingX CASHCAT-USDT	+0.0232%	4h	0.1762	+0.017%	—	$1.0M	—	as long as short
edgeX CASHCATUSDC	+0.0238%	4h	0.1760	−0.069%	$53K	$171K	5x	as long as short
MEXC CASHCAT_USDT	+0.0238%	4h	0.1763	+0.085%	$8.7M	$460K	20x	as long as short
Polymarket Perps CASHCAT-USD	+0.0297%	1h	0.1763	+0.051%	$66K	$1.2M	3x	as long as short
BloFin CASHCAT-USDT	+0.0340%	4h	0.1761	−0.040%	$5K	$496K	20x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1762	−0.007%	$96K	$464K	5x	as long as short
Lighter RH CASHCAT	+0.1160%	1h	0.1763	+0.085%	$339K	$815K	3x	as long as short
Lighter CASHCAT	+0.1296%	1h	0.1764	+0.114%	$1.3M	$1.9M	3x	as long as short
Arcus CASHCAT-USD	+0.1786%	1h	0.1758	−0.194%	$121K	$214K	5x	as long as short
Aster CASHCATUSDT	+0.3203%	1h	0.1762	+0.044%	$579K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1838	+4.331%	$12K	$9K	5.5x	as long as short