Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.129%

Price spread now: Gate against Lighter−0.006%7-day average −0.116% · you buy dearer than you sell

Net, funding: paid 7d − costs−$225as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1541.539% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.712%−$71 on $10k

Price spread, last 7 days−0.139%−$14 · spread now −0.006%, 7d avg −0.116%

Together, before fees−0.851%+ Points / potential airdropLighter: Season 3 · farm board−$85 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: Gate is 0.110% dearer against Lighter than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.116%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CASHCAT	0.1594	0.0096	pay 0.0012% / 1h	26m 22s	$1.1M	$1.9M	3x
Short	Gate CASHCAT_USDT	0.1594	0.0100	get 0.0050% / 4h	26m 22s	$1.4M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Lighter. 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 LighterbpFee GatebpOrdersPrice spread, now −0.006%Rate

Funding earned: $0.84
Price spread: −0.006% → −0.116%: $10.97
Slippage, 4 orders: −$138.94
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$142.14
Costs to cover: 1.539%
Break-even: 1191.5 days

Slippage from Lighter: live order book, 5 min ago; Gate: live order book, 1 min ago.

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 Lighter live order book, 5 min ago	4.12 bp	6.6 bp −$7	19.3 bp −$193	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	9.11 bp	67.3 bp −$67	317.7 bp −$3,177	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 CASHCATlong	+0.0096%	1h	0.1594	long leg	$1.1M	$1.9M	3x
Lighter RH CASHCAT	+0.0096%	1h	0.1596	+0.125%	$313K	$846K	3x	as long as short
Nado CASHCAT-PERP	+0.0100%	1h	0.1591	−0.176%	$215K	$203K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1593	−0.031%	$43.6M	$20.1M	3x	as long as short
Gate CASHCAT_USDTshort	+0.0100%	4h	0.1594	−0.006%	$1.4M	$2.0M	20x
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1593	−0.050%	$562K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1582	−0.764%	$1.1M	$1.7M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1598	+0.264%	$72K	$64K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1594	+0.042%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1593	−0.044%	$478	$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	0.1596	+0.144%	$18K	$333K	10x	as long as short
Bybit CASHCATUSDT	+0.0230%	4h	0.1595	+0.050%	$12.1M	$18.7M	10x	as long as short
MEXC CASHCAT_USDT	+0.0238%	4h	0.1594	+0.019%	$7.9M	$522K	20x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1593	−0.027%	$98K	$610K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0749%	1h	0.1594	+0.019%	$64K	$1.3M	3x	as long as short
BingX CASHCAT-USDT	+0.0770%	4h	0.1596	+0.138%	—	$1.0M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.0810%	4h	0.1596	+0.138%	$1.4M	$11.0M	20x	as long as short
edgeX CASHCATUSDC	+0.0866%	4h	0.1580	−0.888%	$47K	$170K	5x	as long as short
BloFin CASHCAT-USDT	+0.1051%	4h	0.1599	+0.326%	$53K	$501K	20x	as long as short
Aster CASHCATUSDT	+0.2056%	1h	0.1593	−0.069%	$529K	$1.1M	10x	as long as short
Arcus CASHCAT-USD	+0.2181%	1h	0.1595	+0.080%	$96K	$262K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1609	+0.954%	$8K	$18K	5.5x	as long as short