Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.083%

Price spread now: Variational Omni against Lighter+0.306%7-day average +0.210% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.198%−$20 on $10k

Price spread, last 7 days−0.320%−$32 · spread now +0.306%, 7d avg +0.210%

Together, before fees−0.518%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$52 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 Variational Omni is 0.096% dearer against Lighter than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.210%. Mind the row above: over the last 4 days funding on this pair cost −0.198%, 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	0.1623	0.0088	pay 0.0011% / 1h	53m 36s	$1.1M	$1.8M	3x
Short	Variational Omni CASHCAT	0.1627	0.0100	get 0.0050% / 4h	1h 53m	$1.0M	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.306%Rate

Funding earned: $2.52
Price spread: +0.306% → +0.210%: $9.59
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $12.11
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 3 min ago; Variational Omni: RFQ quote, just now. 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 Lighter live order book, 3 min ago	4.62 bp	8.5 bp −$9	14.5 bp −$145	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	9.22 bp	doesn't fit	58.4 bp −$584	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	0.1623	long leg	$1.1M	$1.8M	3x
Lighter RH CASHCAT	+0.0096%	1h	0.1623	+0.025%	$349K	$939K	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1623	+0.006%	$44.4M	$20.1M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1621	−0.092%	$1.5M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1621	−0.080%	$566K	$2.4M	10x	as long as short
Variational Omni CASHCATshort	+0.0100%	4h	0.1627	+0.306%	$1.0M	$1.8M	—
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1633	+0.659%	$74K	$59K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1627	+0.264%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1625	+0.142%	$487	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1627	+0.262%	$19K	$297K	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	+0.0480%	1h	0.1622	−0.005%	$103K	$751K	5x	as long as short
MEXC CASHCAT_USDT	+0.0526%	4h	0.1624	+0.080%	$8.1M	$524K	20x	as long as short
Bybit CASHCATUSDT	+0.0527%	4h	0.1624	+0.080%	$12.2M	$19.1M	10x	as long as short
Nado CASHCAT-PERP	+0.0678%	1h	0.1622	−0.052%	$207K	$192K	5x	as long as short
Arcus CASHCAT-USD	+0.0990%	1h	0.1631	+0.496%	$101K	$280K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.1012%	1h	0.1626	+0.210%	$63K	$1.3M	3x	as long as short
BingX CASHCAT-USDT	+0.1064%	4h	0.1623	+0.031%	—	$1.1M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.1106%	4h	0.1623	+0.031%	$1.5M	$12.1M	20x	as long as short
edgeX CASHCATUSDC	+0.1194%	4h	0.1630	+0.460%	$49K	$168K	5x	as long as short
BloFin CASHCAT-USDT	+0.1468%	4h	0.1631	+0.524%	$52K	$559K	20x	as long as short
Aster CASHCATUSDT	+0.1582%	1h	0.1625	+0.145%	$545K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1659	+2.250%	$8K	$19K	5.5x	as long as short