Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.4900%/8h= −536.5% APRpaid last 24h −1.362%

Price spread now: MEXC against Injective−1.048%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 MEXC

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 MEXC is 1.048% cheaper against Injective than usual: you would sell low and buy high (−$105 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	0.1631	0.5000	pay 0.0625% / 1h	43m 00s	$8K	$18K	5.5x
Short	MEXC CASHCAT_USDT	0.1614	0.0100	get 0.0050% / 4h	3h 43m	$8.0M	$518K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −1.048%Rate

Funding earned: −$1,029
Price spread: −1.048% → 0.000%: −$104.84
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 10 bp × 2 orders: −$20
Net: −$1,153.86
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 5 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 MEXC live order book, 5 min ago	2.80 bp	21.3 bp −$21	320.0 bp −$3,200	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	+0.0096%	1h	0.1613	−1.128%	$1.1M	$1.8M	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1613	−1.085%	$44.1M	$19.9M	3x	as long as short
Bybit CASHCATUSDT	+0.0100%	4h	0.1611	−1.196%	$12.1M	$18.8M	10x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1611	−1.202%	$1.4M	$2.0M	20x	as long as short
MEXC CASHCAT_USDTshort	+0.0100%	4h	0.1614	−1.048%	$8.0M	$518K	20x
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1612	−1.140%	$560K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1609	−1.372%	$1.0M	$1.7M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1610	−1.318%	$73K	$64K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1611	−1.240%	—	$2.4M	10x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1618	−0.791%	$18K	$322K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CASHCAT-USD	+0.0105%	1h	0.1613	−1.128%	$484	$1K	3x	as long as short
edgeX CASHCATUSDC	+0.0256%	4h	0.1606	−1.520%	$49K	$170K	5x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1612	−1.176%	$169K	$675K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0587%	1h	0.1610	−1.294%	$66K	$1.3M	3x	as long as short
Nado CASHCAT-PERP	+0.0679%	1h	0.1607	−1.471%	$217K	$188K	5x	as long as short
Lighter RH CASHCAT	+0.0904%	1h	0.1614	−1.067%	$308K	$876K	3x	as long as short
BingX CASHCAT-USDT	+0.0958%	4h	0.1614	−1.042%	—	$1.0M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.0996%	4h	0.1613	−1.104%	$1.5M	$11.2M	20x	as long as short
BloFin CASHCAT-USDT	+0.1296%	4h	0.1612	−1.165%	$52K	$501K	20x	as long as short
Arcus CASHCAT-USD	+0.2486%	1h	0.1608	−1.388%	$97K	$264K	5x	as long as short
Aster CASHCATUSDT	+0.3210%	1h	0.1609	−1.326%	$538K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERPlong	+0.5000%	1h	0.1631	long leg	$8K	$18K	5.5x