Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.4424%/8h= −484.4% APRpaid last 24h −1.341%

Price spread now: BingX against Injective−4.059%102s7-day average — · you buy dearer than you sell

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

Long on Injective Short on BingX

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 against this trade now: funding costs −$133 a day on $10k at the current rate, and BingX is 4.059% cheaper against Injective than usual: you would sell low and buy high (−$406 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 102 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	Injective CASHCAT/USDC PERP	0.1749	0.5000	pay 0.0625% / 1h	57m 36s	$9K	$18K	5.5x
Short	BingX CASHCAT-USDT	0.1678	0.0576	get 0.0288% / 4h	3h 57m	—	$1.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee BingXbpOrdersPrice spread, now −4.059%Rate

Funding earned: −$929.04
Price spread: −4.059% → 0.000%: −$405.95
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: −$1,345.01
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; BingX: live order book, 12 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 Injective no order-book sample	—	—	—	—	—
Sell BingX live order book, 12 min ago	8.91 bp	32.4 bp −$32	74.3 bp −$743	731.3 bp −$73.1K	1212.2 bp −$606.1K

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
Lighter CASHCAT	+0.0096%	1h	0.1676	−4.202%	$1.1M	$1.7M	3x	as long as short
Lighter RH CASHCAT	+0.0096%	1h	0.1676	−4.202%	$359K	$931K	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1674	−4.271%	$46.1M	$20.6M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1672	−4.403%	$1.5M	$1.8M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1674	−4.300%	$601K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1673	−4.344%	$1.1M	$1.8M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1666	−4.763%	$75K	$60K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1666	−4.723%	$65K	$1.4M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1670	−4.542%	—	$2.4M	10x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1669	−4.548%	$22K	$257K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CASHCAT-USD	+0.0239%	1h	0.1671	−4.448%	$501	$1K	3x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1676	−4.156%	$240K	$886K	5x	as long as short
BingX CASHCAT-USDTshort	+0.0576%	4h	0.1678	−4.059%	—	$1.1M	—
OKX CASHCAT-USDT-SWAP	+0.0590%	4h	0.1679	−4.002%	$1.4M	$12.8M	20x	as long as short
BloFin CASHCAT-USDT	+0.0824%	4h	0.1670	−4.517%	$52K	$582K	20x	as long as short
edgeX CASHCATUSDC	+0.1048%	4h	0.1669	−4.600%	$51K	$168K	5x	as long as short
MEXC CASHCAT_USDT	+0.1566%	4h	0.1676	−4.162%	$8.5M	$523K	20x	as long as short
Bybit CASHCATUSDT	+0.1567%	4h	0.1679	−4.014%	$12.5M	$19.2M	10x	as long as short
Nado CASHCAT-PERP	+0.1972%	1h	0.1666	−4.720%	$247K	$207K	5x	as long as short
Arcus CASHCAT-USD	+0.3849%	1h	0.1675	−4.222%	$103K	$315K	5x	as long as short
Aster CASHCATUSDT	+0.3872%	1h	0.1671	−4.431%	$542K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERPlong	+0.5000%	1h	0.1749	long leg	$9K	$18K	5.5x