Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.4900%/8h= −536.5% APRpaid last 24h −1.357%

Price spread now: KuCoin against Injective−6.563%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 KuCoin

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 KuCoin is 6.563% cheaper against Injective than usual: you would sell low and buy high (−$656 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	0.1824	0.5000	pay 0.0625% / 1h	0m 33s	$12K	$9K	5.5x
Short	KuCoin CASHCATUSDTM	0.1704	0.0100	get 0.0050% / 4h	2h 00m	$577K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −6.563%Rate

Funding earned: −$1,029
Price spread: −6.563% → 0.000%: −$656.25
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,697.27
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; 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 Injective no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 6 min ago	6.72 bp	62.6 bp −$63	doesn't fit	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	0.1704	−6.590%	$1.2M	$2.0M	3x	as long as short
Lighter RH CASHCAT	+0.0096%	1h	0.1707	−6.420%	$331K	$809K	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1708	−6.371%	$48.4M	$18.9M	3x	as long as short
Bybit CASHCATUSDT	+0.0100%	4h	0.1710	−6.239%	$12.8M	$18.6M	10x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0100%	4h	0.1709	−6.305%	$1.0M	$10.7M	20x	as long as short
Arcus CASHCAT-USD	+0.0100%	1h	0.1708	−6.366%	$100K	$183K	5x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1704	−6.584%	$1.4M	$2.1M	20x	as long as short
MEXC CASHCAT_USDT	+0.0100%	4h	0.1707	−6.425%	$8.5M	$495K	20x	as long as short
KuCoin CASHCATUSDTMshort	+0.0100%	4h	0.1704	−6.563%	$577K	$2.4M	10x
BingX CASHCAT-USDT	+0.0100%	4h	0.1705	−6.524%	—	$1.0M	—	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CASHCAT	+0.0100%	4h	0.1714	−6.057%	$1.4M	$1.7M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1712	−6.118%	$77K	$72K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1709	−6.286%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1705	−6.524%	$512	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1712	−6.119%	$18K	$412K	10x	as long as short
edgeX CASHCATUSDC	+0.0237%	4h	0.1712	−6.161%	$51K	$172K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0270%	1h	0.1709	−6.332%	$67K	$1.3M	3x	as long as short
BloFin CASHCAT-USDT	+0.0340%	4h	0.1707	−6.414%	$50K	$495K	20x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1705	−6.543%	$93K	$475K	5x	as long as short
Nado CASHCAT-PERP	+0.0538%	1h	0.1706	−6.442%	$241K	$158K	5x	as long as short
Aster CASHCATUSDT	+0.0615%	1h	0.1707	−6.396%	$559K	$1.2M	10x	as long as short
Injective CASHCAT/USDC PERPlong	+0.5000%	1h	0.1824	long leg	$12K	$9K	5.5x