Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.129%

Price spread now: KuCoin against Lighter+0.120%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$228as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1601.601% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.678%−$68 on $10k

Price spread, last 7 days−0.085%−$8 · spread now +0.120%, 7d avg −0.041%

Together, before fees−0.763%+ Points / potential airdropLighter: Season 3 · farm board−$76 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and KuCoin is 0.160% dearer against Lighter than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.041%. Mind the row above: over the last 7 days funding on this pair cost −0.678%, 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	Lighter CASHCAT	0.1587	0.0088	pay 0.0011% / 1h	11m 05s	$1.1M	$1.9M	3x
Short	KuCoin CASHCATUSDTM	0.1589	0.0100	get 0.0050% / 4h	11m 05s	$556K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.120%Rate

Funding earned: $2.52
Price spread: +0.120% → −0.041%: $16.02
Slippage, 4 orders: −$148.06
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$141.52
Costs to cover: 1.601%
Break-even: 400.1 days

Slippage from Lighter: live order book, 5 min ago; KuCoin: live order book, 6 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	6.90 bp	7.5 bp −$8	19.0 bp −$190	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	5.94 bp	71.6 bp −$72	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
Lighter CASHCATlong	+0.0088%	1h	0.1587	long leg	$1.1M	$1.9M	3x
Lighter RH CASHCAT	+0.0096%	1h	0.1591	+0.246%	$314K	$848K	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1589	+0.077%	$43.5M	$20.1M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1590	+0.157%	$1.3M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTMshort	+0.0100%	4h	0.1589	+0.120%	$556K	$2.4M	10x
Variational Omni CASHCAT	+0.0100%	4h	0.1593	+0.325%	$1.1M	$1.7M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1596	+0.548%	$72K	$64K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1590	+0.152%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1587	−0.013%	$476	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1598	+0.652%	$18K	$329K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CASHCATUSDT	+0.0116%	4h	0.1590	+0.195%	$12.1M	$18.7M	10x	as long as short
MEXC CASHCAT_USDT	+0.0124%	4h	0.1592	+0.258%	$7.9M	$523K	20x	as long as short
Nado CASHCAT-PERP	+0.0181%	1h	0.1587	+0.006%	$214K	$202K	5x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1590	+0.140%	$97K	$608K	5x	as long as short
BingX CASHCAT-USDT	+0.0816%	4h	0.1591	+0.227%	—	$1.0M	—	as long as short
edgeX CASHCATUSDC	+0.0836%	4h	0.1596	+0.566%	$48K	$170K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0840%	1h	0.1591	+0.220%	$63K	$1.3M	3x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0888%	4h	0.1591	+0.227%	$1.4M	$11.0M	20x	as long as short
BloFin CASHCAT-USDT	+0.1143%	4h	0.1588	+0.038%	$52K	$495K	20x	as long as short
Arcus CASHCAT-USD	+0.2181%	1h	0.1593	+0.334%	$96K	$264K	5x	as long as short
Aster CASHCATUSDT	+0.2274%	1h	0.1589	+0.118%	$530K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1620	+2.054%	$8K	$18K	5.5x	as long as short