Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0133%/8h= −14.6% APRpaid last 24h −0.061%

Price spread now: Hyperliquid against edgeX+0.639%66s7-day average −0.211% · you sell dearer than you buy

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

Long on edgeX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.792%−$79 · spread now +0.639%, 7d avg −0.211%

Together, before fees−0.795%+ Points / potential airdropedgeX: Active · Hyperliquid: Season 2 · farm board−$80 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.850% dearer against edgeX than usual: you sell high and buy low (spread +0.639% now, against its 7-day average of −0.211%): +$85 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 21 days. At the pace of the last 7 days (−0.004% in total) that is about years. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CASHCATUSDC	0.1573	0.0233	pay 0.0116% / 4h	2h 30m	$48K	$169K	5x
Short	Hyperliquid CASHCAT	0.1583	0.0100	get 0.0013% / 1h	30m 23s	$43.2M	$20.0M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against edgeX. 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 edgeXbpFee HyperliquidbpOrdersPrice spread, now +0.639%Rate

Funding earned: −$27.93
Price spread: +0.639% → −0.211%: $84.97
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $39.04
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: edgeX: live order book, 16 min ago; Hyperliquid: live order book, 3 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 edgeX live order book, 16 min ago	6.70 bp	151.2 bp −$151	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	1.27 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 CASHCAT	−0.0912%	1h	0.1580	+0.429%	$1.1M	$1.9M	3x	as long as short
Lighter RH CASHCAT	+0.0096%	1h	0.1581	+0.499%	$331K	$935K	3x	as long as short
Hyperliquid CASHCATshort	+0.0100%	1h	0.1583	+0.639%	$43.2M	$20.0M	3x
Aster CASHCATUSDT	+0.0100%	1h	0.1581	+0.502%	$530K	$1.1M	10x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1581	+0.524%	$1.4M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1582	+0.581%	$559K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1580	+0.470%	$1.0M	$1.7M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1572	−0.080%	$71K	$64K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1577	+0.260%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1577	+0.251%	$473	$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	0.1576	+0.193%	$19K	$306K	10x	as long as short
Nado CASHCAT-PERP	+0.0189%	1h	0.1581	+0.524%	$202K	$190K	5x	as long as short
MEXC CASHCAT_USDT	+0.0214%	4h	0.1583	+0.626%	$7.9M	$517K	20x	as long as short
edgeX CASHCATUSDClong	+0.0233%	4h	0.1573	long leg	$48K	$169K	5x
Bybit CASHCATUSDT	+0.0253%	4h	0.1588	+0.988%	$11.9M	$19.0M	10x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1581	+0.500%	$98K	$745K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0619%	1h	0.1582	+0.581%	$67K	$1.3M	3x	as long as short
BingX CASHCAT-USDT	+0.0966%	4h	0.1587	+0.906%	—	$1.1M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.1041%	4h	0.1585	+0.778%	$1.4M	$11.4M	20x	as long as short
BloFin CASHCAT-USDT	+0.1332%	4h	0.1577	+0.270%	$53K	$524K	20x	as long as short
Arcus CASHCAT-USD	+0.2390%	1h	0.1579	+0.394%	$98K	$270K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1591	+1.160%	$8K	$18K	5.5x	as long as short