Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0891%/8h= −97.6% APRpaid last 24h −0.071%

Price spread now: Lighter against BloFin+0.064%7-day average −0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$770.774% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.133%+$13 on $10k

Price spread, last 4 days (all we have)−0.407%−$41 · spread now +0.064%, 7d avg −0.092%

Together, before fees−0.274%+ Points / potential airdropLighter: Season 3 · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.156% dearer against BloFin than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of −0.092%): +$16 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 14 hours. Mind the row above: over the last 7 days funding on this pair paid +0.133%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.133% in total (about 6.9% 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	BloFin CASHCAT-USDT	0.1713	0.0763	pay 0.0382% / 4h	2h 56m	$52K	$607K	20x
Short	Lighter CASHCAT	0.1714	−0.0128	pay 0.0016% / 1h	56m 56s	$1.2M	$1.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$187.18
Price spread: +0.064% → −0.092%: $15.62
Slippage, 4 orders: −$65.45
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$249
Costs to cover: 0.774%
Break-even: never at this rate

Slippage from BloFin: live order book, 14 min ago; Lighter: live order book, 4 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 BloFin live order book, 14 min ago	17.39 bp	27.6 bp −$28	80.2 bp −$802	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	5.20 bp	5.2 bp −$5	8.1 bp −$81	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 CASHCATshort	−0.0128%	1h	0.1714	+0.064%	$1.2M	$1.6M	3x
Hyperliquid CASHCAT	+0.0100%	1h	0.1717	+0.239%	$47.4M	$20.3M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1712	−0.035%	$1.6M	$1.8M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1712	−0.041%	$627K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1732	+1.120%	$1.2M	$1.8M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1733	+1.144%	$84K	$64K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1710	−0.193%	$67K	$1.3M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1717	+0.213%	—	$2.1M	10x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1712	−0.067%	$20K	$227K	10x	as long as short
Lighter RH CASHCAT	+0.0152%	1h	0.1714	+0.082%	$356K	$880K	3x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CASHCAT-USD	+0.0347%	1h	0.1716	+0.158%	$515	$1K	3x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1716	+0.196%	$246K	$868K	5x	as long as short
Bybit CASHCATUSDT	+0.0490%	4h	0.1719	+0.362%	$13.1M	$19.1M	10x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0524%	4h	0.1717	+0.234%	$1.4M	$12.8M	20x	as long as short
MEXC CASHCAT_USDT	+0.0538%	4h	0.1714	+0.088%	$8.8M	$542K	20x	as long as short
BingX CASHCAT-USDT	+0.0662%	4h	0.1716	+0.175%	—	$1.1M	—	as long as short
BloFin CASHCAT-USDTlong	+0.0763%	4h	0.1713	long leg	$52K	$607K	20x
edgeX CASHCATUSDC	+0.1124%	4h	0.1724	+0.669%	$52K	$167K	5x	as long as short
Nado CASHCAT-PERP	+0.1570%	1h	0.1713	−0.029%	$255K	$205K	5x	as long as short
Aster CASHCATUSDT	+0.4050%	1h	0.1714	+0.053%	$568K	$1.0M	10x	as long as short
Arcus CASHCAT-USD	+0.4530%	1h	0.1718	+0.306%	$106K	$309K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1735	+1.284%	$8K	$18K	5.5x	as long as short