Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.4900%/8h= −536.5% APRpaid last 24h −1.383%

Price spread now: Gate against Injective−1.760%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$147 a day on $10k at the current rate, and Gate is 1.760% cheaper against Injective than usual: you would sell low and buy high (−$176 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective CASHCAT/USDC PERP	0.1659	0.5000	pay 0.0625% / 1h	45m 11s	$8K	$19K	5.5x
Short	Gate CASHCAT_USDT	0.1630	0.0100	get 0.0050% / 4h	1h 45m	$1.5M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now −1.760%Rate

Funding earned: −$1,029
Price spread: −1.760% → 0.000%: −$176.01
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1,220.03
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: 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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	10.44 bp	31.2 bp −$31	165.6 bp −$1,656	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0384%	1h	0.1629	−1.832%	$1.1M	$1.8M	3x	as long as short
Lighter RH CASHCAT	+0.0096%	1h	0.1633	−1.597%	$351K	$940K	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1633	−1.537%	$44.7M	$20.2M	3x	as long as short
Gate CASHCAT_USDTshort	+0.0100%	4h	0.1630	−1.760%	$1.5M	$2.0M	20x
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1629	−1.802%	$571K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1627	−1.904%	$1.0M	$1.8M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1626	−1.977%	$74K	$59K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1624	−2.132%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1633	−1.597%	$490	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1629	−1.806%	$19K	$295K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado CASHCAT-PERP	+0.0423%	1h	0.1626	−1.968%	$206K	$193K	5x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1632	−1.604%	$103K	$751K	5x	as long as short
Bybit CASHCATUSDT	+0.0516%	4h	0.1632	−1.621%	$12.3M	$19.1M	10x	as long as short
MEXC CASHCAT_USDT	+0.0538%	4h	0.1631	−1.676%	$8.1M	$526K	20x	as long as short
Polymarket Perps CASHCAT-USD	+0.0791%	1h	0.1629	−1.832%	$63K	$1.3M	3x	as long as short
Arcus CASHCAT-USD	+0.0990%	1h	0.1630	−1.726%	$101K	$280K	5x	as long as short
BingX CASHCAT-USDT	+0.1056%	4h	0.1634	−1.507%	—	$1.1M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.1104%	4h	0.1640	−1.145%	$1.5M	$12.2M	20x	as long as short
edgeX CASHCATUSDC	+0.1394%	4h	0.1631	−1.694%	$49K	$169K	5x	as long as short
BloFin CASHCAT-USDT	+0.1426%	4h	0.1628	−1.869%	$52K	$559K	20x	as long as short
Aster CASHCATUSDT	+0.1709%	1h	0.1629	−1.792%	$546K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERPlong	+0.5000%	1h	0.1659	long leg	$8K	$19K	5.5x