Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1750%/8h= +191.7% APRpaid last 24h −0.007%

Price spread now: BingX against Hyperliquid+0.272%7-day average −0.087% · you sell dearer than you buy

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

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.255%−$26 on $10k

Price spread, last 7 days−0.320%−$32 · spread now +0.272%, 7d avg −0.087%

Together, before fees−0.575%+ Points / potential airdropHyperliquid: Season 2 · farm board−$57 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$53 a day on $10k at the current rate, and BingX is 0.359% dearer against Hyperliquid than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of −0.087%. Mind the row above: over the last 7 days funding on this pair cost −0.255%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.255% in total (about -13.3% 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	Hyperliquid CASHCAT	0.1692	0.0100	pay 0.0013% / 1h	32m 09s	$46.6M	$20.6M	3x
Short	BingX CASHCAT-USDT	0.1697	0.1850	get 0.0925% / 4h	3h 32m	—	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Hyperliquid. 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 HyperliquidbpFee BingXbpOrdersPrice spread, now +0.272%Rate

Funding earned: $367.58
Price spread: +0.272% → −0.087%: $35.87
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: $384.45
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 11 min ago; BingX: live order book, 8 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 Hyperliquid live order book, 11 min ago	1.18 bp	13.1 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	5.91 bp	21.8 bp −$22	81.6 bp −$816	482.8 bp −$48.3K	953.5 bp −$476.7K

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	0.1695	+0.148%	$330K	$844K	3x	as long as short
Nado CASHCAT-PERP	+0.0100%	1h	0.1692	−0.009%	$257K	$186K	5x	as long as short
Hyperliquid CASHCATlong	+0.0100%	1h	0.1692	long leg	$46.6M	$20.6M	3x
Gate CASHCAT_USDT	+0.0100%	4h	0.1692	−0.041%	$1.4M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1693	+0.041%	$602K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1693	+0.014%	$1.4M	$1.5M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1695	+0.171%	$76K	$72K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1693	+0.047%	$68K	$1.3M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1692	0.000%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1693	+0.035%	$508	$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	0.1702	+0.550%	$18K	$381K	10x	as long as short
Extended CASHCAT-USD	+0.0104%	1h	0.1693	+0.060%	$100K	$465K	5x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0192%	4h	0.1697	+0.272%	$1.2M	$10.8M	20x	as long as short
BloFin CASHCAT-USDT	+0.0406%	4h	0.1698	+0.331%	$51K	$512K	20x	as long as short
Lighter CASHCAT	+0.0912%	1h	0.1696	+0.219%	$1.2M	$1.9M	3x	as long as short
Bybit CASHCATUSDT	+0.1618%	4h	0.1695	+0.160%	$12.9M	$18.7M	10x	as long as short
Aster CASHCATUSDT	+0.1753%	1h	0.1694	+0.096%	$560K	$1.1M	10x	as long as short
MEXC CASHCAT_USDT	+0.1800%	4h	0.1696	+0.213%	$8.5M	$485K	20x	as long as short
BingX CASHCAT-USDTshort	+0.1850%	4h	0.1697	+0.272%	—	$1.0M	—
edgeX CASHCATUSDC	+0.2645%	4h	0.1693	+0.040%	$51K	$171K	5x	as long as short
Arcus CASHCAT-USD	+0.3384%	1h	0.1695	+0.169%	$117K	$219K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1714	+1.276%	$8K	$12K	5.5x	as long as short