Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h −0.118%

Price spread now: Variational Omni against Lighter−0.291%7-day average +0.211% · you buy dearer than you sell

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.194%−$19 on $10k

Price spread, last 7 days+0.301%+$30 · spread now −0.291%, 7d avg +0.211%

Together, before fees+0.107%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Variational Omni is 0.502% cheaper against Lighter than usual: you would sell low and buy high (−$50 if the spread goes back to its 7-day average of +0.211%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CASHCAT	0.1637	0.0376	pay 0.0047% / 1h	37m 32s	$1.2M	$1.7M	3x
Short	Variational Omni CASHCAT	0.1633	0.0100	get 0.0050% / 4h	1h 37m	$1.2M	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.291%Rate

Funding earned: −$57.96
Price spread: −0.291% → +0.211%: −$50.18
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$108.14
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 9 min ago; Variational Omni: RFQ quote, 2 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 Lighter live order book, 9 min ago	7.40 bp	8.6 bp −$9	15.7 bp −$157	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	9.16 bp	doesn't fit	106.9 bp −$1,069	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	0.1635	−0.156%	$245K	$185K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1636	−0.086%	$44.6M	$19.2M	3x	as long as short
Arcus CASHCAT-USD	+0.0100%	1h	0.1636	−0.068%	$113K	$218K	5x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1635	−0.159%	$1.4M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1635	−0.165%	$556K	$2.4M	10x	as long as short
Variational Omni CASHCATshort	+0.0100%	4h	0.1633	−0.291%	$1.2M	$1.6M	—
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1634	−0.195%	$74K	$63K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1636	−0.079%	$66K	$1.2M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1636	−0.062%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1636	−0.079%	$491	$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	0.1637	−0.030%	$18K	$348K	10x	as long as short
Extended CASHCAT-USD	+0.0104%	1h	0.1634	−0.224%	$100K	$492K	5x	as long as short
Lighter CASHCATlong	+0.0376%	1h	0.1637	long leg	$1.2M	$1.7M	3x
Lighter RH CASHCAT	+0.0448%	1h	0.1637	−0.012%	$319K	$823K	3x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0482%	4h	0.1638	+0.037%	$1.3M	$10.5M	20x	as long as short
Aster CASHCATUSDT	+0.0526%	1h	0.1636	−0.104%	$547K	$1.0M	10x	as long as short
Bybit CASHCATUSDT	+0.0695%	4h	0.1638	+0.006%	$12.2M	$17.9M	10x	as long as short
MEXC CASHCAT_USDT	+0.0710%	4h	0.1637	0.000%	$8.1M	$494K	20x	as long as short
BloFin CASHCAT-USDT	+0.0723%	4h	0.1639	+0.098%	$52K	$466K	20x	as long as short
BingX CASHCAT-USDT	+0.0748%	4h	0.1637	−0.024%	—	$1.0M	—	as long as short
edgeX CASHCATUSDC	+0.1422%	4h	0.1631	−0.375%	$49K	$170K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1650	+0.770%	$8K	$18K	5.5x	as long as short