Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.107%

Price spread now: Variational Omni against Lighter RH−0.794%7-day average +0.311% · you buy dearer than you sell

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

Long on Lighter RH Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.303%−$30 on $10k

Price spread, last 4 days (all we have)+4.234%+$423 · spread now −0.794%, 7d avg +0.311%

Together, before fees+3.931%+ Points / potential airdropLighter RH: Points live · Variational Omni: Active · farm board+$393 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 1.105% cheaper against Lighter RH than usual: you would sell low and buy high (−$111 if the spread goes back to its 7-day average of +0.311%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CASHCAT	0.1595	0.0120	pay 0.0015% / 1h	1m 53s	$312K	$840K	3x
Short	Variational Omni CASHCAT	0.1582	0.0100	get 0.0050% / 4h	1h 01m	$1.2M	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter RH. 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 Lighter RHbpFee Variational OmnibpOrdersPrice spread, now −0.794%Rate

Funding earned: −$4.2
Price spread: −0.794% → +0.311%: −$110.53
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$114.73
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Lighter RH: live order book, 61 min ago; Variational Omni: RFQ quote, 2 min ago. 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 RH live order book, 61 min ago	11.49 bp	12.6 bp −$13	17.4 bp −$174	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	9.40 bp	doesn't fit	115.9 bp −$1,159	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	0.1589	−0.345%	$217K	$201K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1597	+0.132%	$43.7M	$19.8M	3x	as long as short
Arcus CASHCAT-USD	+0.0100%	1h	0.1595	+0.015%	$96K	$239K	5x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1595	0.000%	$1.3M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1595	+0.063%	$543K	$2.4M	10x	as long as short
Variational Omni CASHCATshort	+0.0100%	4h	0.1582	−0.794%	$1.2M	$1.6M	—
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1589	−0.332%	$72K	$64K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1596	+0.065%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1593	−0.075%	$478	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1601	+0.386%	$18K	$340K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CASHCATlong	+0.0120%	1h	0.1595	long leg	$312K	$840K	3x
Polymarket Perps CASHCAT-USD	+0.0210%	1h	0.1594	−0.031%	$65K	$1.3M	3x	as long as short
MEXC CASHCAT_USDT	+0.0308%	4h	0.1597	+0.157%	$7.9M	$524K	20x	as long as short
Bybit CASHCATUSDT	+0.0313%	4h	0.1600	+0.332%	$12.3M	$18.4M	10x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1596	+0.124%	$150K	$562K	5x	as long as short
BingX CASHCAT-USDT	+0.0547%	4h	0.1600	+0.345%	—	$1.0M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.0630%	4h	0.1599	+0.282%	$1.3M	$10.6M	20x	as long as short
BloFin CASHCAT-USDT	+0.0835%	4h	0.1589	−0.345%	$52K	$469K	20x	as long as short
edgeX CASHCATUSDC	+0.0910%	4h	0.1588	−0.388%	$48K	$170K	5x	as long as short
Lighter CASHCAT	+0.0920%	1h	0.1596	+0.088%	$1.1M	$1.7M	3x	as long as short
Aster CASHCATUSDT	+0.1980%	1h	0.1598	+0.245%	$531K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1606	+0.721%	$8K	$18K	5.5x	as long as short