Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1588%/8h= −173.9% APRpaid last 24h −0.157%

Price spread now: edgeX against Lighter+0.087%79s7-day average +0.219% · you sell dearer than you buy

Net, funding: paid 7d − costs−$346as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3153.145% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.315%−$31 on $10k

Price spread, last 3 days (all we have)+0.361%+$36 · spread now +0.087%, 7d avg +0.219%

Together, before fees+0.047%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$48 a day on $10k at the current rate, and edgeX is 0.132% cheaper against Lighter than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.219%). Swap the legs. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.315% in total (about -16.4% 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	0.1759	0.1888	pay 0.0236% / 1h	36m 14s	$1.3M	$1.9M	3x
Short	edgeX CASHCATUSDC	0.1760	0.0300	get 0.0150% / 4h	36m 14s	$53K	$171K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter. 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 LighterbpFee edgeXbpOrdersPrice spread, now +0.087%Rate

Funding earned: −$333.48
Price spread: +0.087% → +0.219%: −$13.18
Slippage, 4 orders: −$305.55
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$661.2
Costs to cover: 3.145%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; edgeX: live order book, 40 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, 5 min ago	2.27 bp	9.2 bp −$9	12.2 bp −$122	doesn't fit	doesn't fit
Sell edgeX live order book, 40 min ago	4.90 bp	148.9 bp −$149	doesn't fit	doesn't fit	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
Hyperliquid CASHCAT	+0.0100%	1h	0.1756	−0.139%	$49.6M	$18.4M	3x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0100%	4h	0.1757	−0.108%	$1.1M	$10.5M	20x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1754	−0.267%	$1.5M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1758	−0.045%	$594K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1757	−0.088%	$1.5M	$1.6M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1758	−0.057%	$79K	$72K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1756	−0.148%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1756	−0.159%	$527	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1754	−0.264%	$19K	$393K	10x	as long as short
MEXC CASHCAT_USDT	+0.0186%	4h	0.1758	−0.068%	$8.7M	$465K	20x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CASHCATUSDT	+0.0191%	4h	0.1758	−0.063%	$13.1M	$18.1M	10x	as long as short
BingX CASHCAT-USDT	+0.0266%	4h	0.1757	−0.108%	—	$1.0M	—	as long as short
Nado CASHCAT-PERP	+0.0290%	1h	0.1754	−0.250%	$248K	$155K	5x	as long as short
edgeX CASHCATUSDCshort	+0.0300%	4h	0.1760	+0.087%	$53K	$171K	5x
BloFin CASHCAT-USDT	+0.0340%	4h	0.1756	−0.165%	$50K	$496K	20x	as long as short
Polymarket Perps CASHCAT-USD	+0.0368%	1h	0.1757	−0.114%	$66K	$1.2M	3x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1756	−0.153%	$102K	$469K	5x	as long as short
Lighter RH CASHCAT	+0.1064%	1h	0.1758	−0.028%	$336K	$822K	3x	as long as short
Arcus CASHCAT-USD	+0.1786%	1h	0.1757	−0.122%	$121K	$216K	5x	as long as short
Lighter CASHCATlong	+0.1888%	1h	0.1759	long leg	$1.3M	$1.9M	3x
Aster CASHCATUSDT	+0.2962%	1h	0.1757	−0.125%	$576K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1851	+5.236%	$12K	$9K	5.5x	as long as short