Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0845%/8h= +92.5% APRpaid last 24h −0.112%

Price spread now: Bybit against Lighter RH+0.232%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$162as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$1121.120% of the position

Long on Lighter RH Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.501%−$50 on $10k

Price spread, last 4 days (all we have)−0.242%−$24 · spread now +0.232%, 7d avg +0.004%

Together, before fees−0.743%+ Points / potential airdropLighter RH: Points live · farm board−$74 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Bybit is 0.228% dearer against Lighter RH than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.004%. Mind the row above: over the last 7 days funding on this pair cost −0.501%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.501% in total (about -26.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CASHCAT	0.1679	0.0288	pay 0.0036% / 1h	20m 39s	$325K	$814K	3x
Short	Bybit CASHCATUSDT	0.1683	0.1133	get 0.0566% / 4h	2h 20m	$12.8M	$18.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter RH. 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 Lighter RHbpFee BybitbpOrdersPrice spread, now +0.232%Rate

Funding earned: $177.37
Price spread: +0.232% → +0.004%: $22.8
Slippage, 4 orders: −$101.05
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $88.12
Costs to cover: 1.120%
Break-even: 3.5 days

Slippage from Lighter RH: live order book, 47 min ago; Bybit: live order book, 3 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 RH live order book, 47 min ago	12.38 bp	14.1 bp −$14	20.0 bp −$200	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	4.76 bp	35.4 bp −$35	126.6 bp −$1,266	doesn't fit	doesn't fit

CASHCAT on 21 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	−0.161%	$251K	$190K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1678	−0.042%	$45.9M	$19.9M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1677	−0.125%	$1.4M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1678	−0.095%	$594K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1680	+0.026%	$1.4M	$1.4M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1675	−0.238%	$76K	$64K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1679	−0.018%	$68K	$1.2M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1677	−0.114%	—	$2.5M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1677	−0.155%	$503	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1678	−0.063%	$18K	$360K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CASHCAT-USD	+0.0104%	1h	0.1678	−0.051%	$118K	$472K	5x	as long as short
Lighter RH CASHCATlong	+0.0288%	1h	0.1679	long leg	$325K	$814K	3x
Lighter CASHCAT	+0.0440%	1h	0.1679	+0.018%	$1.2M	$1.7M	3x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0451%	4h	0.1683	+0.226%	$1.3M	$10.8M	20x	as long as short
MEXC CASHCAT_USDT	+0.1132%	4h	0.1681	+0.077%	$8.4M	$498K	20x	as long as short
Bybit CASHCATUSDTshort	+0.1133%	4h	0.1683	+0.232%	$12.8M	$18.2M	10x
BingX CASHCAT-USDT	+0.1152%	4h	0.1682	+0.167%	—	$1.0M	—	as long as short
Aster CASHCATUSDT	+0.1222%	1h	0.1676	−0.218%	$553K	$1.1M	10x	as long as short
edgeX CASHCATUSDC	+0.1465%	4h	0.1676	−0.176%	$50K	$170K	5x	as long as short
Arcus CASHCAT-USD	+0.2842%	1h	0.1681	+0.124%	$116K	$219K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1703	+1.417%	$8K	$12K	5.5x	as long as short