Funding arb · Price arb /

CASHCAT

all CASHCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.4900%/8h= −536.5% APRpaid last 24h −1.357%

Price spread now: Bybit against Injective−5.125%7-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 Bybit

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 −$147 a day on $10k at the current rate, and Bybit is 5.125% cheaper against Injective than usual: you would sell low and buy high (−$513 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective CASHCAT/USDC PERP	0.1834	0.5000	pay 0.0625% / 1h	34m 45s	$12K	$9K	5.5x
Short	Bybit CASHCATUSDT	0.1740	0.0100	get 0.0050% / 4h	1h 34m	$13.0M	$18.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. 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 InjectivebpFee BybitbpOrdersPrice spread, now −5.125%Rate

Funding earned: −$1,029
Price spread: −5.125% → 0.000%: −$512.54
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1,552.56
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 4 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 Bybit live order book, 4 min ago	3.99 bp	34.9 bp −$35	118.1 bp −$1,181	doesn't fit	doesn't fit

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	0.1739	−5.202%	$1.2M	$1.9M	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1736	−5.322%	$49.1M	$18.8M	3x	as long as short
Bybit CASHCATUSDTshort	+0.0100%	4h	0.1740	−5.125%	$13.0M	$18.6M	10x
OKX CASHCAT-USDT-SWAP	+0.0100%	4h	0.1742	−5.016%	$1.1M	$10.9M	20x	as long as short
Arcus CASHCAT-USD	+0.0100%	1h	0.1744	−4.932%	$110K	$205K	5x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1736	−5.371%	$1.5M	$2.0M	20x	as long as short
MEXC CASHCAT_USDT	+0.0100%	4h	0.1741	−5.093%	$8.6M	$466K	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1736	−5.322%	$587K	$2.4M	10x	as long as short
BingX CASHCAT-USDT	+0.0100%	4h	0.1742	−5.016%	—	$1.0M	—	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1749	−4.643%	$1.5M	$1.7M	—	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1751	−4.509%	$79K	$72K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1735	−5.391%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1736	−5.327%	$521	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1748	−4.703%	$19K	$407K	10x	as long as short
edgeX CASHCATUSDC	+0.0152%	4h	0.1751	−4.516%	$52K	$171K	5x	as long as short
Lighter RH CASHCAT	+0.0336%	1h	0.1739	−5.196%	$337K	$800K	3x	as long as short
BloFin CASHCAT-USDT	+0.0340%	4h	0.1739	−5.180%	$49K	$505K	20x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1736	−5.327%	$95K	$467K	5x	as long as short
Nado CASHCAT-PERP	+0.0541%	1h	0.1735	−5.423%	$245K	$157K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0622%	1h	0.1737	−5.300%	$65K	$1.3M	3x	as long as short
Aster CASHCATUSDT	+0.2440%	1h	0.1737	−5.305%	$567K	$1.2M	10x	as long as short
Injective CASHCAT/USDC PERPlong	+0.5000%	1h	0.1834	long leg	$12K	$9K	5.5x