Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0454%/8h= +49.7% APRpaid last 24h −0.004%

Price spread now: MEXC against Hyperliquid+0.292%7-day average −0.019% · you sell dearer than you buy

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

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.336%−$34 on $10k

Price spread, last 7 days−0.273%−$27 · spread now +0.292%, 7d avg −0.019%

Together, before fees−0.609%+ Points / potential airdropHyperliquid: Season 2 · farm board−$61 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and MEXC is 0.311% dearer against Hyperliquid than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of −0.019%. Mind the row above: over the last 7 days funding on this pair cost −0.336%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid CASHCAT	0.1643	0.0100	pay 0.0013% / 1h	29m 06s	$44.8M	$19.3M	3x
Short	MEXC CASHCAT_USDT	0.1647	0.0554	get 0.0277% / 4h	1h 29m	$8.2M	$501K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.292%Rate

Funding earned: $95.34
Price spread: +0.292% → −0.019%: $31.08
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 10 bp × 2 orders: −$20
Net: $97.42
Costs to cover: 0.290%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 4 min ago; MEXC: live order book, 4 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, 4 min ago	3.96 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	3.95 bp	21.8 bp −$22	316.8 bp −$3,168	1282.0 bp −$128.2K	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	0.1644	+0.091%	$246K	$185K	5x	as long as short
Hyperliquid CASHCATlong	+0.0100%	1h	0.1643	long leg	$44.8M	$19.3M	3x
Arcus CASHCAT-USD	+0.0100%	1h	0.1644	+0.082%	$114K	$219K	5x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1643	0.000%	$1.4M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1646	+0.195%	$558K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1648	+0.308%	$1.2M	$1.5M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1650	+0.457%	$75K	$64K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1646	+0.238%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1645	+0.152%	$494	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1647	+0.259%	$18K	$346K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CASHCAT-USD	+0.0188%	1h	0.1647	+0.286%	$66K	$1.2M	3x	as long as short
Extended CASHCAT-USD	+0.0192%	1h	0.1646	+0.233%	$100K	$499K	5x	as long as short
Lighter RH CASHCAT	+0.0432%	1h	0.1646	+0.225%	$321K	$823K	3x	as long as short
Bybit CASHCATUSDT	+0.0536%	4h	0.1642	−0.030%	$12.2M	$17.9M	10x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0538%	4h	0.1644	+0.091%	$1.4M	$10.5M	20x	as long as short
MEXC CASHCAT_USDTshort	+0.0554%	4h	0.1647	+0.292%	$8.2M	$501K	20x
BingX CASHCAT-USDT	+0.0608%	4h	0.1645	+0.152%	—	$1.0M	—	as long as short
Aster CASHCATUSDT	+0.0692%	1h	0.1646	+0.205%	$550K	$1.0M	10x	as long as short
BloFin CASHCAT-USDT	+0.0774%	4h	0.1653	+0.639%	$52K	$472K	20x	as long as short
Lighter CASHCAT	+0.0904%	1h	0.1648	+0.317%	$1.2M	$1.7M	3x	as long as short
edgeX CASHCATUSDC	+0.1260%	4h	0.1644	+0.121%	$49K	$170K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1663	+1.248%	$8K	$18K	5.5x	as long as short