Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.010%

Price spread now: Hyperliquid against KuCoin+0.046%7-day average +0.093% · you sell dearer than you buy

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

Long on KuCoin Short on Hyperliquid

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−0.140%−$14 · spread now +0.046%, 7d avg +0.093%

Together, before fees+0.232%+ Points / potential airdropHyperliquid: Season 2 · farm board+$23 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: Hyperliquid is 0.047% cheaper against KuCoin than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CASHCATUSDTM	0.1725	0.0100	pay 0.0050% / 4h	1h 30m	$584K	$2.4M	10x
Short	Hyperliquid CASHCAT	0.1726	0.0100	get 0.0013% / 1h	30m 44s	$48.8M	$18.8M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.046%Rate

Funding earned: $0
Price spread: +0.046% → +0.093%: −$4.71
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$25.71
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 6 min ago; Hyperliquid: live order book, 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 KuCoin live order book, 6 min ago	8.59 bp	85.0 bp −$85	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	2.58 bp	doesn't fit	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
Lighter CASHCAT	+0.0096%	1h	0.1726	+0.058%	$1.2M	$1.9M	3x	as long as short
Hyperliquid CASHCATshort	+0.0100%	1h	0.1726	+0.046%	$48.8M	$18.8M	3x
Bybit CASHCATUSDT	+0.0100%	4h	0.1729	+0.209%	$12.9M	$18.6M	10x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0100%	4h	0.1728	+0.162%	$1.1M	$10.8M	20x	as long as short
Arcus CASHCAT-USD	+0.0100%	1h	0.1741	+0.889%	$119K	$214K	5x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1725	−0.012%	$1.5M	$2.0M	20x	as long as short
MEXC CASHCAT_USDT	+0.0100%	4h	0.1729	+0.220%	$8.6M	$467K	20x	as long as short
KuCoin CASHCATUSDTMlong	+0.0100%	4h	0.1725	long leg	$584K	$2.4M	10x
BingX CASHCAT-USDT	+0.0100%	4h	0.1727	+0.104%	—	$1.0M	—	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1749	+1.371%	$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	0.1740	+0.852%	$79K	$72K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1729	+0.197%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1727	+0.081%	$518	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1742	+0.951%	$19K	$406K	10x	as long as short
Lighter RH CASHCAT	+0.0240%	1h	0.1728	+0.145%	$337K	$805K	3x	as long as short
BloFin CASHCAT-USDT	+0.0340%	4h	0.1733	+0.452%	$50K	$507K	20x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1726	+0.042%	$94K	$466K	5x	as long as short
Nado CASHCAT-PERP	+0.0518%	1h	0.1727	+0.122%	$244K	$157K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0586%	1h	0.1732	+0.417%	$65K	$1.3M	3x	as long as short
edgeX CASHCATUSDC	+0.0850%	4h	0.1745	+1.166%	$52K	$172K	5x	as long as short
Aster CASHCATUSDT	+0.2442%	1h	0.1728	+0.162%	$564K	$1.2M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1834	+6.307%	$12K	$9K	5.5x	as long as short