Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0533%/8h= −58.3% APRpaid last 24h −0.176%

Price spread now: MEXC against Nado+0.274%51s7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1451.453% of the position

Long on Nado Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.200%−$20 on $10k

Price spread, last 4 days (all we have)−0.608%−$61 · spread now +0.274%, 7d avg +0.079%

Together, before fees−0.808%+ Points / potential airdropNado: Active · farm board−$81 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.196% dearer against Nado than usual: you sell high and buy low (spread +0.274% now, against its 7-day average of +0.079%): +$20 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 3 days (−0.200% in total) that is about 3.3 days. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CASHCAT-PERP	0.1568	0.0633	pay 0.0079% / 1h	3m 42s	$212K	$183K	5x
Short	MEXC CASHCAT_USDT	0.1572	0.0100	get 0.0050% / 4h	3h 03m	$7.8M	$524K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Nado. 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 NadobpFee MEXCbpOrdersPrice spread, now +0.274%Rate

Funding earned: −$111.86
Price spread: +0.274% → +0.079%: $19.56
Slippage, 4 orders: −$125.25
Fee Nado: 0 bp × 2 orders: $0
Fee MEXC: 10 bp × 2 orders: −$20
Net: −$237.55
Costs to cover: 1.453%
Break-even: never at this rate

Slippage from Nado: live order book, 49 min ago; MEXC: live order book, 4 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 Nado live order book, 49 min ago	21.16 bp	48.6 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	3.16 bp	21.2 bp −$21	346.0 bp −$3,460	1326.9 bp −$132.7K	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 CASHCAT	−0.0360%	1h	0.1567	−0.051%	$1.1M	$1.9M	3x	as long as short
Lighter RH CASHCAT	+0.0096%	1h	0.1571	+0.204%	$320K	$919K	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1573	+0.300%	$43.0M	$20.0M	3x	as long as short
Bybit CASHCATUSDT	+0.0100%	4h	0.1573	+0.300%	$11.7M	$19.0M	10x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1569	+0.057%	$1.4M	$2.0M	20x	as long as short
MEXC CASHCAT_USDTshort	+0.0100%	4h	0.1572	+0.274%	$7.8M	$524K	20x
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1571	+0.172%	$553K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1581	+0.853%	$1.0M	$1.7M	—	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1572	+0.253%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1570	+0.121%	$471	$1K	3x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CASHCAT-USDT	+0.0100%	1h	0.1576	+0.520%	$18K	$314K	10x	as long as short
ApeX Omni CASHCATUSDT	+0.0119%	1h	0.1583	+0.938%	$72K	$64K	50x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1569	+0.086%	$164K	$675K	5x	as long as short
edgeX CASHCATUSDC	+0.0491%	4h	0.1571	+0.212%	$48K	$169K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0598%	1h	0.1573	+0.344%	$67K	$1.3M	3x	as long as short
Nado CASHCAT-PERPlong	+0.0633%	1h	0.1568	long leg	$212K	$183K	5x
BingX CASHCAT-USDT	+0.0822%	4h	0.1573	+0.319%	—	$1.1M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.0878%	4h	0.1572	+0.255%	$1.4M	$11.2M	20x	as long as short
BloFin CASHCAT-USDT	+0.1153%	4h	0.1579	+0.702%	$52K	$524K	20x	as long as short
Aster CASHCATUSDT	+0.1787%	1h	0.1573	+0.315%	$525K	$1.1M	10x	as long as short
Arcus CASHCAT-USD	+0.2486%	1h	0.1579	+0.686%	$96K	$268K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1636	+4.337%	$8K	$18K	5.5x	as long as short