Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.2081%/8h= +227.9% APRpaid last 24h +0.186%

Price spread now: Arcus against Variational Omni+0.201%50s7-day average −0.264% · you sell dearer than you buy

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

Long on Variational Omni Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.431%+$43 on $10k

Price spread, last 4 days (all we have)−2.554%−$255 · spread now +0.201%, 7d avg −0.264%

Together, before fees−2.123%+ Points / potential airdropVariational Omni: Active · farm board−$212 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$62 a day on $10k at the current rate, and Arcus is 0.464% dearer against Variational Omni than usual: you sell high and buy low: +$46 more if the spread goes back to its 7-day average of −0.264%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.431% in total (about 45.4% 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	Variational Omni CASHCAT	0.1573	0.0100	pay 0.0050% / 4h	47m 43s	$1.1M	$1.7M	—
Short	Arcus CASHCAT-USD	0.1576	0.2181	get 0.0273% / 1h	47m 43s	$95K	$238K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Variational Omni. 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 Variational OmnibpFee ArcusbpOrdersPrice spread, now +0.201%Rate

Funding earned: $437.11
Price spread: +0.201% → −0.264%: $46.43
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $479.03
Costs to cover: 0.045%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Arcus: live order book, 11 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 Variational Omni RFQ quote, 1 min ago	9.55 bp	doesn't fit	149.5 bp −$1,495	doesn't fit	doesn't fit
Sell Arcus live order book, 11 min ago	28.69 bp	75.5 bp −$76	doesn't fit	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 CASHCAT	+0.0096%	1h	0.1556	−1.051%	$1.1M	$1.8M	3x	as long as short
Lighter RH CASHCAT	+0.0096%	1h	0.1559	−0.885%	$302K	$834K	3x	as long as short
Nado CASHCAT-PERP	+0.0100%	1h	0.1575	+0.164%	$215K	$201K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1558	−0.962%	$42.6M	$19.9M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1554	−1.216%	$1.3M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1556	−1.063%	$540K	$2.4M	10x	as long as short
Variational Omni CASHCATlong	+0.0100%	4h	0.1573	long leg	$1.1M	$1.7M	—
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1569	−0.230%	$71K	$64K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1579	+0.379%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1575	+0.100%	$472	$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	0.1581	+0.523%	$18K	$339K	10x	as long as short
Bybit CASHCATUSDT	+0.0362%	4h	0.1563	−0.650%	$11.8M	$18.7M	10x	as long as short
MEXC CASHCAT_USDT	+0.0376%	4h	0.1558	−0.942%	$7.7M	$515K	20x	as long as short
Polymarket Perps CASHCAT-USD	+0.0386%	1h	0.1579	+0.380%	$65K	$1.3M	3x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1555	−1.157%	$96K	$614K	5x	as long as short
BingX CASHCAT-USDT	+0.0656%	4h	0.1558	−0.949%	—	$1.0M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.0738%	4h	0.1565	−0.504%	$1.4M	$10.6M	20x	as long as short
BloFin CASHCAT-USDT	+0.0957%	4h	0.1577	+0.259%	$52K	$472K	20x	as long as short
edgeX CASHCATUSDC	+0.1244%	4h	0.1588	+0.954%	$48K	$170K	5x	as long as short
Arcus CASHCAT-USDshort	+0.2181%	1h	0.1576	+0.201%	$95K	$238K	5x
Aster CASHCATUSDT	+0.2777%	1h	0.1557	−1.032%	$516K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1617	+2.802%	$8K	$18K	5.5x	as long as short