Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.112%

Price spread now: Variational Omni against Lighter RH+0.111%7-day average +0.303% · you sell dearer than you buy

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

Long on Lighter RH Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.301%−$30 on $10k

Price spread, last 4 days (all we have)+0.967%+$97 · spread now +0.111%, 7d avg +0.303%

Together, before fees+0.666%+ Points / potential airdropLighter RH: Points live · Variational Omni: Active · farm board+$67 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: Variational Omni is 0.192% cheaper against Lighter RH than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.303%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CASHCAT	0.1672	0.0096	pay 0.0012% / 1h	4m 29s	$326K	$816K	3x
Short	Variational Omni CASHCAT	0.1674	0.0100	get 0.0050% / 4h	2h 04m	$1.4M	$1.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.111%Rate

Funding earned: $0.84
Price spread: +0.111% → +0.303%: −$19.19
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$18.35
Costs to cover: 0.000%
Break-even: 159.9 days

Slippage unknown: Lighter RH: live order book, 63 min ago; Variational Omni: RFQ quote, 5 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 RH live order book, 63 min ago	12.38 bp	14.1 bp −$14	20.0 bp −$200	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	9.02 bp	doesn't fit	69.1 bp −$691	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
Lighter RH CASHCATlong	+0.0096%	1h	0.1672	long leg	$326K	$816K	3x
Nado CASHCAT-PERP	+0.0100%	1h	0.1671	−0.051%	$250K	$189K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1672	+0.022%	$45.7M	$19.1M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1669	−0.185%	$1.4M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1672	+0.012%	$590K	$2.3M	10x	as long as short
Variational Omni CASHCATshort	+0.0100%	4h	0.1674	+0.111%	$1.4M	$1.4M	—
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1671	−0.054%	$75K	$64K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1672	+0.036%	$67K	$1.2M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1669	−0.181%	—	$2.5M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1669	−0.150%	$501	$1K	3x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CASHCAT-USDT	+0.0100%	1h	0.1670	−0.102%	$18K	$355K	10x	as long as short
Extended CASHCAT-USD	+0.0104%	1h	0.1671	−0.024%	$117K	$470K	5x	as long as short
Lighter CASHCAT	+0.0232%	1h	0.1673	+0.042%	$1.2M	$1.7M	3x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0443%	4h	0.1676	+0.251%	$1.3M	$10.4M	20x	as long as short
Aster CASHCATUSDT	+0.0862%	1h	0.1671	−0.048%	$551K	$1.0M	10x	as long as short
MEXC CASHCAT_USDT	+0.0958%	4h	0.1674	+0.120%	$8.3M	$500K	20x	as long as short
Bybit CASHCATUSDT	+0.0982%	4h	0.1675	+0.179%	$12.7M	$17.9M	10x	as long as short
BingX CASHCAT-USDT	+0.1008%	4h	0.1674	+0.132%	—	$1.0M	—	as long as short
edgeX CASHCATUSDC	+0.1247%	4h	0.1672	+0.022%	$50K	$170K	5x	as long as short
Arcus CASHCAT-USD	+0.2842%	1h	0.1673	+0.089%	$116K	$217K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1703	+1.866%	$8K	$12K	5.5x	as long as short