Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: Hyperliquid against Bybit+0.028%7-day average −0.009% · you sell dearer than you buy

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

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.333%+$33 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.028%, 7d avg −0.009%

Together, before fees+0.305%+ Points / potential airdropHyperliquid: Season 2 · farm board+$30 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: Hyperliquid is 0.037% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CASHCATUSDT	0.1683	0.0100	pay 0.0050% / 4h	3h 26m	$12.6M	$19.2M	10x
Short	Hyperliquid CASHCAT	0.1684	0.0100	get 0.0013% / 1h	26m 15s	$46.4M	$20.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 BybitbpFee HyperliquidbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → −0.009%: $3.74
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$16.26
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Hyperliquid: live order book, 7 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 Bybit live order book, 2 min ago	4.45 bp	38.2 bp −$38	123.1 bp −$1,231	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	1.19 bp	doesn't fit	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 RH CASHCAT	+0.0096%	1h	0.1681	−0.107%	$348K	$945K	3x	as long as short
Hyperliquid CASHCATshort	+0.0100%	1h	0.1684	+0.028%	$46.4M	$20.6M	3x
Bybit CASHCATUSDTlong	+0.0100%	4h	0.1683	long leg	$12.6M	$19.2M	10x
Gate CASHCAT_USDT	+0.0100%	4h	0.1682	−0.059%	$1.5M	$1.8M	20x	as long as short
MEXC CASHCAT_USDT	+0.0100%	4h	0.1685	+0.089%	$8.5M	$537K	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1682	−0.089%	$600K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1678	−0.319%	$1.1M	$1.8M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1679	−0.238%	$76K	$61K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1680	−0.190%	$66K	$1.3M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1683	+0.012%	—	$2.3M	10x	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	0.1684	+0.039%	$22K	$243K	10x	as long as short
SoDEX CASHCAT-USD	+0.0176%	1h	0.1686	+0.166%	$506	$1K	3x	as long as short
Lighter CASHCAT	+0.0264%	1h	0.1680	−0.202%	$1.1M	$1.7M	3x	as long as short
edgeX CASHCATUSDC	+0.0350%	4h	0.1679	−0.271%	$51K	$169K	5x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1682	−0.042%	$241K	$883K	5x	as long as short
BingX CASHCAT-USDT	+0.0495%	4h	0.1683	−0.012%	—	$1.1M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.0511%	4h	0.1681	−0.131%	$1.4M	$12.8M	20x	as long as short
BloFin CASHCAT-USDT	+0.0766%	4h	0.1688	+0.285%	$53K	$594K	20x	as long as short
Nado CASHCAT-PERP	+0.1557%	1h	0.1680	−0.172%	$250K	$204K	5x	as long as short
Arcus CASHCAT-USD	+0.3849%	1h	0.1681	−0.120%	$104K	$312K	5x	as long as short
Aster CASHCATUSDT	+0.4055%	1h	0.1681	−0.149%	$544K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1712	+1.711%	$8K	$18K	5.5x	as long as short