Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1139%/8h= −124.7% APRpaid last 24h +0.083%

Price spread now: Polymarket Perps against Bybit+0.012%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs−$174as in the Price arb table

costs, in and out, $10k−$1731.728% of the position

Long on Bybit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.450%+$45 on $10k

Price spread, last 4 days (all we have)+1.608%+$161 · spread now +0.012%, 7d avg +0.023%

Together, before fees+2.058%+$206 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.023%, so right now this pair is about funding alone: −$34 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.450%, 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 0.450% in total (about 23.5% 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	Bybit CASHCATUSDT	0.1660	0.1239	pay 0.0619% / 4h	2h 39m	$12.6M	$18.6M	10x
Short	Polymarket Perps CASHCAT-USD	0.1660	0.0100	get 0.0013% / 1h	39m 32s	$67K	$1.3M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.012%Rate

Funding earned: −$239.14
Price spread: +0.012% → +0.023%: −$1.13
Slippage, 4 orders: −$153.79
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$413.06
Costs to cover: 1.728%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Polymarket Perps: 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 Bybit live order book, 4 min ago	1.49 bp	51.7 bp −$52	155.5 bp −$1,555	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	8.08 bp	70.7 bp −$71	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
Nado CASHCAT-PERP	+0.0100%	1h	0.1660	+0.003%	$248K	$189K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1660	+0.018%	$45.5M	$20.4M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1657	−0.151%	$1.4M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1658	−0.102%	$585K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1667	+0.424%	$1.4M	$1.4M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1673	+0.801%	$75K	$64K	50x	as long as short
Polymarket Perps CASHCAT-USDshort	+0.0100%	1h	0.1660	+0.012%	$67K	$1.3M	3x
SunX CASHCAT-USDT	+0.0100%	1h	0.1658	−0.139%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1660	+0.006%	$498	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1662	+0.158%	$18K	$369K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CASHCAT-USD	+0.0104%	1h	0.1657	−0.147%	$116K	$479K	5x	as long as short
Lighter RH CASHCAT	+0.0248%	1h	0.1659	−0.024%	$322K	$810K	3x	as long as short
Lighter CASHCAT	+0.0408%	1h	0.1659	−0.024%	$1.2M	$1.7M	3x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0409%	4h	0.1664	+0.253%	$1.3M	$10.8M	20x	as long as short
BloFin CASHCAT-USDT	+0.0642%	4h	0.1672	+0.735%	$51K	$490K	20x	as long as short
Bybit CASHCATUSDTlong	+0.1239%	4h	0.1660	long leg	$12.6M	$18.6M	10x
MEXC CASHCAT_USDT	+0.1264%	4h	0.1659	−0.036%	$8.3M	$496K	20x	as long as short
BingX CASHCAT-USDT	+0.1280%	4h	0.1660	+0.012%	—	$1.0M	—	as long as short
edgeX CASHCATUSDC	+0.1542%	4h	0.1674	+0.880%	$50K	$170K	5x	as long as short
Aster CASHCATUSDT	+0.1585%	1h	0.1660	+0.006%	$549K	$1.1M	10x	as long as short
Arcus CASHCAT-USD	+0.2842%	1h	0.1663	+0.217%	$115K	$224K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1693	+2.000%	$8K	$12K	5.5x	as long as short