Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0908%/8h= −99.4% APRpaid last 24h −0.136%

Price spread now: OKX against Lighter+0.227%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$720.721% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.649%−$65 on $10k

Price spread, last 7 days−0.236%−$24 · spread now +0.227%, 7d avg −0.011%

Together, before fees−0.885%+ Points / potential airdropLighter: Season 3 · farm board−$89 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.237% dearer against Lighter than usual: you sell high and buy low (spread +0.227% now, against its 7-day average of −0.011%): +$24 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 7 days (−0.649% in total) that is about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CASHCAT	0.1677	0.1008	pay 0.0126% / 1h	53m 31s	$1.2M	$1.9M	3x
Short	OKX CASHCAT-USDT-SWAP	0.1681	0.0100	get 0.0050% / 4h	3h 53m	$1.2M	$10.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Lighter. 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 LighterbpFee OKXbpOrdersPrice spread, now +0.227%Rate

Funding earned: −$190.68
Price spread: +0.227% → −0.011%: $23.75
Slippage, 4 orders: −$62.09
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$239.02
Costs to cover: 0.721%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; OKX: live order book, 5 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, 3 min ago	5.36 bp	8.8 bp −$9	14.5 bp −$145	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	2.97 bp	25.4 bp −$25	111.9 bp −$1,119	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
Nado CASHCAT-PERP	+0.0100%	1h	0.1676	−0.051%	$259K	$183K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1671	−0.399%	$46.3M	$20.4M	3x	as long as short
OKX CASHCAT-USDT-SWAPshort	+0.0100%	4h	0.1681	+0.227%	$1.2M	$10.7M	20x
Gate CASHCAT_USDT	+0.0100%	4h	0.1675	−0.119%	$1.4M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1671	−0.382%	$592K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1684	+0.392%	$1.4M	$1.5M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1683	+0.364%	$76K	$72K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1671	−0.388%	$67K	$1.3M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1669	−0.500%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1672	−0.322%	$502	$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	0.1670	−0.408%	$17K	$387K	10x	as long as short
Extended CASHCAT-USD	+0.0320%	1h	0.1671	−0.340%	$98K	$468K	5x	as long as short
BloFin CASHCAT-USDT	+0.0340%	4h	0.1674	−0.191%	$51K	$496K	20x	as long as short
Lighter RH CASHCAT	+0.0616%	1h	0.1676	−0.054%	$326K	$841K	3x	as long as short
Lighter CASHCATlong	+0.1008%	1h	0.1677	long leg	$1.2M	$1.9M	3x
Aster CASHCATUSDT	+0.1984%	1h	0.1678	+0.024%	$552K	$1.1M	10x	as long as short
Bybit CASHCATUSDT	+0.2007%	4h	0.1680	+0.149%	$12.8M	$18.7M	10x	as long as short
MEXC CASHCAT_USDT	+0.2382%	4h	0.1676	−0.048%	$8.3M	$476K	20x	as long as short
BingX CASHCAT-USDT	+0.3152%	4h	0.1680	+0.167%	—	$1.0M	—	as long as short
Arcus CASHCAT-USD	+0.3384%	1h	0.1677	−0.023%	$115K	$219K	5x	as long as short
edgeX CASHCATUSDC	+0.3872%	4h	0.1684	+0.425%	$51K	$171K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1695	+1.061%	$8K	$12K	5.5x	as long as short