Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.107%

Price spread now: Lighter RH against Variational Omni−0.337%7-day average −0.310% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.305%+$30 on $10k

Price spread, last 4 days (all we have)−2.108%−$211 · spread now −0.337%, 7d avg −0.310%

Together, before fees−1.803%+ Points / potential airdropVariational Omni: Active · Lighter RH: Points live · farm board−$180 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: Lighter RH is 0.028% cheaper against Variational Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.310%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CASHCAT	0.1575	0.0100	pay 0.0050% / 4h	41m 49s	$1.1M	$1.7M	—
Short	Lighter RH CASHCAT	0.1570	0.0096	get 0.0012% / 1h	41m 49s	$304K	$837K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.337%Rate

Funding earned: −$0.84
Price spread: −0.337% → −0.310%: −$2.76
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$3.6
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Lighter RH: live order book, 16 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, 2 min ago	9.51 bp	doesn't fit	123.6 bp −$1,236	doesn't fit	doesn't fit
Sell Lighter RH live order book, 16 min ago	8.16 bp	8.2 bp −$8	12.7 bp −$127	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	−0.0024%	1h	0.1568	−0.477%	$1.1M	$1.8M	3x	as long as short
Lighter RH CASHCATshort	+0.0096%	1h	0.1570	−0.337%	$304K	$837K	3x
Nado CASHCAT-PERP	+0.0100%	1h	0.1568	−0.458%	$212K	$203K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1570	−0.321%	$42.9M	$20.0M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1568	−0.420%	$1.3M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1570	−0.312%	$547K	$2.4M	10x	as long as short
Variational Omni CASHCATlong	+0.0100%	4h	0.1575	long leg	$1.1M	$1.7M	—
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1577	+0.107%	$71K	$64K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1569	−0.385%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1569	−0.369%	$471	$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	0.1575	−0.030%	$17K	$337K	10x	as long as short
Bybit CASHCATUSDT	+0.0353%	4h	0.1571	−0.242%	$11.9M	$18.7M	10x	as long as short
MEXC CASHCAT_USDT	+0.0364%	4h	0.1572	−0.210%	$7.8M	$516K	20x	as long as short
edgeX CASHCATUSDC	+0.0421%	4h	0.1563	−0.761%	$47K	$170K	5x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1570	−0.333%	$96K	$614K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0559%	1h	0.1570	−0.286%	$63K	$1.3M	3x	as long as short
BingX CASHCAT-USDT	+0.0702%	4h	0.1571	−0.255%	—	$1.0M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.0764%	4h	0.1571	−0.255%	$1.4M	$10.7M	20x	as long as short
BloFin CASHCAT-USDT	+0.0992%	4h	0.1573	−0.128%	$52K	$484K	20x	as long as short
Arcus CASHCAT-USD	+0.2181%	1h	0.1574	−0.035%	$95K	$253K	5x	as long as short
Aster CASHCATUSDT	+0.2813%	1h	0.1571	−0.240%	$522K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1617	+2.666%	$8K	$18K	5.5x	as long as short