Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0840%/8h= −92.0% APRpaid last 24h +0.107%

Price spread now: Lighter RH against MEXC+0.160%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$670.667% of the position

Long on MEXC Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.479%+$48 on $10k

Price spread, last 4 days (all we have)+0.077%+$8 · spread now +0.160%, 7d avg +0.037%

Together, before fees+0.556%+ Points / potential airdropLighter RH: Points live · farm board+$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.123% dearer against MEXC than usual: you sell high and buy low (spread +0.160% now, against its 7-day average of +0.037%): +$12 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 12 hours. Mind the row above: over the last 7 days funding on this pair paid +0.479%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.479% in total (about 25.0% 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	MEXC CASHCAT_USDT	0.1620	0.0936	pay 0.0468% / 4h	1h 50m	$8.0M	$491K	20x
Short	Lighter RH CASHCAT	0.1623	0.0096	get 0.0012% / 1h	50m 27s	$316K	$820K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against MEXC. 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 MEXCbpFee Lighter RHbpOrdersPrice spread, now +0.160%Rate

Funding earned: −$176.4
Price spread: +0.160% → +0.037%: $12.31
Slippage, 4 orders: −$46.75
Fee MEXC: 10 bp × 2 orders: −$20
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$230.83
Costs to cover: 0.667%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Lighter RH: live order book, 12 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 MEXC live order book, 2 min ago	2.77 bp	16.9 bp −$17	222.2 bp −$2,222	1012.3 bp −$101.2K	doesn't fit
Sell Lighter RH live order book, 12 min ago	11.49 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit

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 CASHCATshort	+0.0096%	1h	0.1623	+0.160%	$316K	$820K	3x
Nado CASHCAT-PERP	+0.0100%	1h	0.1618	−0.154%	$242K	$185K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1619	−0.111%	$44.1M	$19.2M	3x	as long as short
Arcus CASHCAT-USD	+0.0100%	1h	0.1624	+0.199%	$112K	$218K	5x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1621	+0.037%	$1.4M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1622	+0.099%	$540K	$2.3M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1626	+0.345%	$1.2M	$1.6M	—	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1619	−0.105%	$65K	$1.2M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1623	+0.127%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1623	+0.130%	$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	0.1632	+0.737%	$17K	$352K	10x	as long as short
Lighter CASHCAT	+0.0104%	1h	0.1623	+0.173%	$1.2M	$1.6M	3x	as long as short
Extended CASHCAT-USD	+0.0104%	1h	0.1622	+0.079%	$97K	$489K	5x	as long as short
ApeX Omni CASHCATUSDT	+0.0318%	1h	0.1624	+0.228%	$74K	$63K	50x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0456%	4h	0.1621	+0.031%	$1.3M	$10.3M	20x	as long as short
Aster CASHCATUSDT	+0.0543%	1h	0.1620	−0.025%	$542K	$1.0M	10x	as long as short
BingX CASHCAT-USDT	+0.0904%	4h	0.1621	+0.031%	—	$1.0M	—	as long as short
Bybit CASHCATUSDT	+0.0919%	4h	0.1620	−0.025%	$12.1M	$17.9M	10x	as long as short
MEXC CASHCAT_USDTlong	+0.0936%	4h	0.1620	long leg	$8.0M	$491K	20x
edgeX CASHCATUSDC	+0.1367%	4h	0.1624	+0.245%	$49K	$170K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1641	+1.265%	$8K	$18K	5.5x	as long as short