Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Hyperliquid against SoDEX−0.028%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.028% cheaper against SoDEX than usual: you would sell low and buy high, −$3 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CASHCAT-USD	0.1818	0.0100	pay 0.0013% / 1h	31m 44s	$545	$1K	3x
Short	Hyperliquid CASHCAT	0.1817	0.0100	get 0.0013% / 1h	31m 44s	$52.0M	$18.8M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against SoDEX. 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 SoDEXbpFee HyperliquidbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0
Price spread: −0.028% → 0.000%: −$2.75
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$19.75
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Hyperliquid: live order book, 17 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 SoDEX no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 17 min ago	2.54 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hyperliquid CASHCATshort	+0.0100%	1h	0.1817	−0.028%	$52.0M	$18.8M	3x
OKX CASHCAT-USDT-SWAP	+0.0100%	4h	0.1810	−0.429%	$1.1M	$11.7M	20x	as long as short
Arcus CASHCAT-USD	+0.0100%	1h	0.1815	−0.182%	$106K	$187K	5x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1815	−0.165%	$1.5M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1812	−0.314%	$598K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1803	−0.829%	$1.5M	$1.7M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1804	−0.759%	$81K	$83K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1818	−0.006%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USDlong	+0.0100%	1h	0.1818	long leg	$545	$1K	3x
HTX CASHCAT-USDT	+0.0100%	1h	0.1820	+0.117%	$19K	$435K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado CASHCAT-PERP	+0.0257%	1h	0.1813	−0.286%	$255K	$152K	5x	as long as short
BloFin CASHCAT-USDT	+0.0340%	4h	0.1807	−0.594%	$50K	$551K	20x	as long as short
Polymarket Perps CASHCAT-USD	+0.0377%	1h	0.1816	−0.121%	$69K	$1.2M	3x	as long as short
MEXC CASHCAT_USDT	+0.0478%	4h	0.1814	−0.231%	$9.1M	$481K	20x	as long as short
Bybit CASHCATUSDT	+0.0480%	4h	0.1811	−0.374%	$13.7M	$18.6M	10x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1817	−0.033%	$294K	$284K	5x	as long as short
BingX CASHCAT-USDT	+0.0854%	4h	0.1817	−0.044%	—	$1.0M	—	as long as short
Lighter RH CASHCAT	+0.1144%	1h	0.1818	0.000%	$349K	$712K	3x	as long as short
edgeX CASHCATUSDC	+0.1460%	4h	0.1798	−1.075%	$54K	$171K	5x	as long as short
Aster CASHCATUSDT	+0.1848%	1h	0.1814	−0.211%	$605K	$1.2M	10x	as long as short
Lighter CASHCAT	+0.1960%	1h	0.1818	+0.011%	$1.3M	$1.9M	3x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1911	+5.127%	$13K	$9K	5.5x	as long as short