Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0246%/8h= −27.0% APRpaid last 24h −0.123%

Price spread now: OKX against Lighter+0.167%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$760.758% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.656%−$66 on $10k

Price spread, last 7 days−0.137%−$14 · spread now +0.167%, 7d avg −0.007%

Together, before fees−0.793%+ Points / potential airdropLighter: Season 3 · farm board−$79 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.174% dearer against Lighter than usual: you sell high and buy low (spread +0.167% now, against its 7-day average of −0.007%): +$17 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CASHCAT	0.1677	0.0664	pay 0.0083% / 1h	35m 11s	$1.2M	$1.7M	3x
Short	OKX CASHCAT-USDT-SWAP	0.1680	0.0418	get 0.0209% / 4h	2h 35m	$1.3M	$10.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.167%Rate

Funding earned: −$51.75
Price spread: +0.167% → −0.007%: $17.44
Slippage, 4 orders: −$65.81
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$110.13
Costs to cover: 0.758%
Break-even: never at this rate

Slippage from Lighter: live order book, 1 min ago; OKX: live order book, 3 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, 1 min ago	5.65 bp	11.5 bp −$12	15.8 bp −$158	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	6.01 bp	32.6 bp −$33	107.2 bp −$1,072	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
Nado CASHCAT-PERP	+0.0100%	1h	0.1673	−0.221%	$250K	$191K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1675	−0.131%	$45.9M	$20.4M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1675	−0.131%	$1.4M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1677	+0.012%	$592K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1681	+0.226%	$1.4M	$1.4M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1670	−0.423%	$75K	$64K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1675	−0.137%	$68K	$1.3M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1674	−0.209%	—	$2.5M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1674	−0.167%	$502	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1667	−0.584%	$18K	$368K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CASHCAT-USD	+0.0104%	1h	0.1674	−0.195%	$117K	$479K	5x	as long as short
Lighter RH CASHCAT	+0.0368%	1h	0.1677	0.000%	$327K	$811K	3x	as long as short
OKX CASHCAT-USDT-SWAPshort	+0.0418%	4h	0.1680	+0.167%	$1.3M	$10.9M	20x
BloFin CASHCAT-USDT	+0.0642%	4h	0.1672	−0.310%	$51K	$490K	20x	as long as short
Lighter CASHCATlong	+0.0664%	1h	0.1677	long leg	$1.2M	$1.7M	3x
Bybit CASHCATUSDT	+0.1188%	4h	0.1679	+0.125%	$12.7M	$18.6M	10x	as long as short
MEXC CASHCAT_USDT	+0.1208%	4h	0.1678	+0.072%	$8.4M	$497K	20x	as long as short
BingX CASHCAT-USDT	+0.1238%	4h	0.1679	+0.107%	—	$1.0M	—	as long as short
edgeX CASHCATUSDC	+0.1464%	4h	0.1662	−0.919%	$50K	$171K	5x	as long as short
Aster CASHCATUSDT	+0.1513%	1h	0.1672	−0.295%	$553K	$1.1M	10x	as long as short
Arcus CASHCAT-USD	+0.2842%	1h	0.1673	−0.223%	$116K	$225K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1695	+1.061%	$8K	$12K	5.5x	as long as short