Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1440%/8h= +157.7% APRpaid last 24h −0.041%

Price spread now: BingX against Lighter+0.061%7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$740.736% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.490%−$49 on $10k

Price spread, last 7 days−0.133%−$13 · spread now +0.061%, 7d avg −0.018%

Together, before fees−0.622%+ Points / potential airdropLighter: Season 3 · farm board−$62 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$43 a day on $10k at the current rate, and BingX is 0.079% dearer against Lighter than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.018%. Mind the row above: over the last 7 days funding on this pair cost −0.490%, 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 -0.490% in total (about -25.5% 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	Lighter CASHCAT	0.1640	−0.0384	get 0.0048% / 1h	44m 06s	$1.1M	$1.8M	3x
Short	BingX CASHCAT-USDT	0.1641	0.1056	get 0.0528% / 4h	1h 44m	—	$1.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now +0.061%Rate

Funding earned: $302.4
Price spread: +0.061% → −0.018%: $7.85
Slippage, 4 orders: −$63.59
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $236.66
Costs to cover: 0.736%
Break-even: 1.5 days

Slippage from Lighter: live order book, 2 min ago; BingX: live order book, 1 min ago.

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 Lighter live order book, 2 min ago	5.55 bp	9.0 bp −$9	19.4 bp −$194	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	6.09 bp	30.2 bp −$30	80.5 bp −$805	630.5 bp −$63.1K	1129.7 bp −$564.8K

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 CASHCATlong	−0.0384%	1h	0.1640	long leg	$1.1M	$1.8M	3x
Hyperliquid CASHCAT	+0.0100%	1h	0.1642	+0.111%	$44.9M	$20.2M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1641	+0.067%	$1.5M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1641	+0.049%	$576K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1627	−0.767%	$1.0M	$1.8M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1626	−0.841%	$74K	$59K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1642	+0.112%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1642	+0.098%	$492	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1629	−0.668%	$19K	$295K	10x	as long as short
Lighter RH CASHCAT	+0.0160%	1h	0.1642	+0.134%	$340K	$954K	3x	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	+0.0384%	1h	0.1639	−0.061%	$208K	$193K	5x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1642	+0.110%	$104K	$751K	5x	as long as short
Bybit CASHCATUSDT	+0.0505%	4h	0.1641	+0.055%	$12.3M	$19.2M	10x	as long as short
MEXC CASHCAT_USDT	+0.0514%	4h	0.1643	+0.189%	$8.2M	$526K	20x	as long as short
Polymarket Perps CASHCAT-USD	+0.0802%	1h	0.1642	+0.122%	$63K	$1.3M	3x	as long as short
Arcus CASHCAT-USD	+0.0990%	1h	0.1644	+0.215%	$102K	$280K	5x	as long as short
BingX CASHCAT-USDTshort	+0.1056%	4h	0.1641	+0.061%	—	$1.1M	—
OKX CASHCAT-USDT-SWAP	+0.1091%	4h	0.1641	+0.061%	$1.5M	$12.2M	20x	as long as short
edgeX CASHCATUSDC	+0.1394%	4h	0.1631	−0.555%	$49K	$169K	5x	as long as short
BloFin CASHCAT-USDT	+0.1426%	4h	0.1628	−0.732%	$52K	$559K	20x	as long as short
Aster CASHCATUSDT	+0.1709%	1h	0.1640	−0.015%	$550K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1659	+1.159%	$8K	$19K	5.5x	as long as short