Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.4900%/8h= −536.5% APRpaid last 24h −1.357%

Price spread now: Variational Omni against Injective−1.872%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$147 a day on $10k at the current rate, and Variational Omni is 1.872% cheaper against Injective than usual: you would sell low and buy high (−$187 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	0.1722	0.5000	pay 0.0625% / 1h	11m 09s	$9K	$12K	5.5x
Short	Variational Omni CASHCAT	0.1690	0.0100	get 0.0050% / 4h	3h 11m	$1.4M	$1.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −1.872%Rate

Funding earned: −$1,029
Price spread: −1.872% → 0.000%: −$187.16
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$1,216.18
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 3 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 Variational Omni RFQ quote, 3 min ago	5.89 bp	doesn't fit	129.5 bp −$1,295	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 RH CASHCAT	+0.0096%	1h	0.1689	−1.911%	$328K	$848K	3x	as long as short
Nado CASHCAT-PERP	+0.0100%	1h	0.1686	−2.062%	$252K	$191K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1688	−1.992%	$46.3M	$20.7M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1686	−2.091%	$1.4M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1686	−2.096%	$598K	$2.4M	10x	as long as short
Variational Omni CASHCATshort	+0.0100%	4h	0.1690	−1.872%	$1.4M	$1.5M	—
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1697	−1.429%	$77K	$67K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1687	−2.009%	$68K	$1.3M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1686	−2.068%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1686	−2.062%	$506	$1K	3x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CASHCAT-USDT	+0.0100%	1h	0.1684	−2.208%	$18K	$373K	10x	as long as short
Extended CASHCAT-USD	+0.0104%	1h	0.1687	−2.057%	$118K	$479K	5x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0351%	4h	0.1690	−1.858%	$1.3M	$10.7M	20x	as long as short
BloFin CASHCAT-USDT	+0.0580%	4h	0.1692	−1.742%	$50K	$506K	20x	as long as short
BingX CASHCAT-USDT	+0.0698%	4h	0.1691	−1.800%	—	$1.0M	—	as long as short
MEXC CASHCAT_USDT	+0.0868%	4h	0.1690	−1.864%	$8.4M	$496K	20x	as long as short
Bybit CASHCATUSDT	+0.0899%	4h	0.1689	−1.887%	$12.9M	$18.6M	10x	as long as short
Lighter CASHCAT	+0.0928%	1h	0.1690	−1.858%	$1.2M	$1.9M	3x	as long as short
edgeX CASHCATUSDC	+0.1624%	4h	0.1704	−1.040%	$51K	$172K	5x	as long as short
Aster CASHCATUSDT	+0.2188%	1h	0.1689	−1.928%	$558K	$1.1M	10x	as long as short
Arcus CASHCAT-USD	+0.3384%	1h	0.1691	−1.783%	$116K	$220K	5x	as long as short
Injective CASHCAT/USDC PERPlong	+0.5000%	1h	0.1722	long leg	$9K	$12K	5.5x