Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0406%/8h= −44.5% APRpaid last 24h −0.068%

Price spread now: SunX against OKX−0.122%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$311as in the Funding arb table

Net, price: spread back to 7d avg − costs−$310as in the Price arb table

costs, in and out, $10k−$3002.998% of the position

Long on OKX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)+0.611%+$61 · spread now −0.122%, 7d avg −0.025%

Together, before fees+0.500%+$50 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and SunX is 0.097% cheaper against OKX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.111% in total (about -5.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CASHCAT-USDT-SWAP	0.1701	0.0506	pay 0.0253% / 4h	2h 15m	$1.3M	$12.6M	20x
Short	SunX CASHCAT-USDT	0.1699	0.0100	get 0.0013% / 1h	15m 07s	—	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against OKX. 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 OKXbpFee SunXbpOrdersPrice spread, now −0.122%Rate

Funding earned: −$85.34
Price spread: −0.122% → −0.025%: −$9.69
Slippage, 4 orders: −$281.82
Fee OKX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$394.86
Costs to cover: 2.998%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; SunX: 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 OKX live order book, 1 min ago	5.88 bp	25.4 bp −$25	101.7 bp −$1,017	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	82.50 bp	131.9 bp −$132	doesn't fit	doesn't fit	doesn't fit

CASHCAT on 22 exchanges

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	+0.0096%	1h	0.1700	−0.071%	$1.2M	$1.6M	3x	as long as short
Lighter RH CASHCAT	+0.0096%	1h	0.1700	−0.047%	$354K	$897K	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1701	0.000%	$47.0M	$19.8M	3x	as long as short
Bybit CASHCATUSDT	+0.0100%	4h	0.1701	−0.024%	$13.0M	$18.8M	10x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1698	−0.194%	$1.5M	$1.8M	20x	as long as short
MEXC CASHCAT_USDT	+0.0100%	4h	0.1700	−0.071%	$8.8M	$583K	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1700	−0.059%	$618K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1700	−0.077%	$1.1M	$1.7M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1694	−0.382%	$77K	$66K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1700	−0.071%	$67K	$1.2M	3x	as long as short

Show all 22 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX CASHCAT-USDTshort	+0.0100%	1h	0.1699	−0.122%	—	$1.8M	10x
HTX CASHCAT-USDT	+0.0100%	1h	0.1698	−0.165%	$20K	$221K	10x	as long as short
SoDEX CASHCAT-USD	+0.0123%	1h	0.1700	−0.071%	$510	$1K	3x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1700	−0.039%	$245K	$872K	5x	as long as short
BingX CASHCAT-USDT	+0.0482%	4h	0.1700	−0.059%	—	$1.1M	—	as long as short
OKX CASHCAT-USDT-SWAPlong	+0.0506%	4h	0.1701	long leg	$1.3M	$12.6M	20x
Aster CASHCATUSDT	+0.0589%	1h	0.1698	−0.180%	$553K	$970K	10x	as long as short
BloFin CASHCAT-USDT	+0.0740%	4h	0.1702	+0.059%	$52K	$609K	20x	as long as short
edgeX CASHCATUSDC	+0.0902%	4h	0.1698	−0.165%	$51K	$169K	5x	as long as short
Nado CASHCAT-PERP	+0.0968%	1h	0.1696	−0.265%	$252K	$201K	5x	as long as short
Arcus CASHCAT-USD	+0.4530%	1h	0.1703	+0.109%	$105K	$307K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1735	+1.999%	$8K	$18K	5.5x	as long as short