Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0814%/8h= +89.1% APRpaid last 24h −0.105%

Price spread now: BingX against Lighter RH+0.352%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$980.982% of the position

Long on Lighter RH Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.399%−$40 on $10k

Price spread, last 4 days (all we have)−0.559%−$56 · spread now +0.352%, 7d avg −0.038%

Together, before fees−0.957%+ Points / potential airdropLighter RH: Points live · farm board−$96 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and BingX is 0.390% dearer against Lighter RH than usual: you sell high and buy low: +$39 more if the spread goes back to its 7-day average of −0.038%. Mind the row above: over the last 7 days funding on this pair cost −0.399%, 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 -0.399% in total (about -20.8% 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 RH CASHCAT	0.1620	0.0096	pay 0.0012% / 1h	52m 38s	$316K	$820K	3x
Short	BingX CASHCAT-USDT	0.1626	0.0910	get 0.0455% / 4h	1h 52m	—	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter RH. 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 Lighter RHbpFee BingXbpOrdersPrice spread, now +0.352%Rate

Funding earned: $170.94
Price spread: +0.352% → −0.038%: $38.99
Slippage, 4 orders: −$88.17
Fee Lighter RH: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $111.75
Costs to cover: 0.982%
Break-even: 2.4 days

Slippage from Lighter RH: live order book, 10 min ago; BingX: live order book, 7 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 RH live order book, 10 min ago	11.49 bp	12.6 bp −$13	17.4 bp −$174	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	9.15 bp	42.7 bp −$43	87.1 bp −$871	491.8 bp −$49.2K	950.8 bp −$475.4K

CASHCAT on 21 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 RH CASHCATlong	+0.0096%	1h	0.1620	long leg	$316K	$820K	3x
Nado CASHCAT-PERP	+0.0100%	1h	0.1620	−0.031%	$242K	$185K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1618	−0.158%	$44.1M	$19.2M	3x	as long as short
Arcus CASHCAT-USD	+0.0100%	1h	0.1623	+0.152%	$112K	$218K	5x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1618	−0.123%	$1.3M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1619	−0.056%	$539K	$2.3M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1623	+0.172%	$1.3M	$1.5M	—	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1621	+0.043%	$65K	$1.2M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1621	+0.048%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1623	+0.142%	$487	$1K	3x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CASHCAT-USDT	+0.0100%	1h	0.1650	+1.833%	$18K	$352K	10x	as long as short
Lighter CASHCAT	+0.0104%	1h	0.1621	+0.037%	$1.2M	$1.6M	3x	as long as short
Extended CASHCAT-USD	+0.0104%	1h	0.1620	−0.020%	$97K	$489K	5x	as long as short
ApeX Omni CASHCATUSDT	+0.0150%	1h	0.1621	+0.062%	$73K	$63K	50x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0454%	4h	0.1626	+0.352%	$1.3M	$10.3M	20x	as long as short
Aster CASHCATUSDT	+0.0663%	1h	0.1621	+0.067%	$542K	$1.0M	10x	as long as short
BingX CASHCAT-USDTshort	+0.0910%	4h	0.1626	+0.352%	—	$1.0M	—
MEXC CASHCAT_USDT	+0.0916%	4h	0.1622	+0.080%	$8.0M	$491K	20x	as long as short
Bybit CASHCATUSDT	+0.0917%	4h	0.1623	+0.185%	$12.1M	$17.9M	10x	as long as short
edgeX CASHCATUSDC	+0.1404%	4h	0.1614	−0.419%	$49K	$170K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1641	+1.278%	$8K	$18K	5.5x	as long as short