Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0422%/8h= +46.2% APRpaid last 24h +0.065%

Price spread now: BingX against SunX+0.203%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$324as in the Funding arb table

Net, price: spread back to 7d avg − costs−$325as in the Price arb table

costs, in and out, $10k−$3443.438% of the position

Long on SunX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.200%+$20 on $10k

Price spread, last 4 days (all we have)−0.518%−$52 · spread now +0.203%, 7d avg +0.018%

Together, before fees−0.319%−$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and BingX is 0.185% dearer against SunX than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.018%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.200% in total (about 10.4% 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	SunX CASHCAT-USDT	0.1675	0.0100	pay 0.0013% / 1h	45m 02s	—	$1.6M	10x
Short	BingX CASHCAT-USDT	0.1678	0.0522	get 0.0261% / 4h	45m 02s	—	$1.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against SunX. 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 SunXbpFee BingXbpOrdersPrice spread, now +0.203%Rate

Funding earned: $88.62
Price spread: +0.203% → +0.018%: $18.5
Slippage, 4 orders: −$325.77
Fee SunX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$236.65
Costs to cover: 3.438%
Break-even: 25.7 days

Slippage from SunX: live order book, 4 min ago; BingX: live order book, 8 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 SunX live order book, 4 min ago	82.23 bp	142.7 bp −$143	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	5.99 bp	33.7 bp −$34	78.0 bp −$780	696.4 bp −$69.6K	1158.4 bp −$579.2K

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
Injective CASHCAT/USDC PERP	+0.0033%	1h	0.1735	+3.607%	$8K	$18K	5.5x	as long as short
Lighter CASHCAT	+0.0096%	1h	0.1676	+0.060%	$1.1M	$1.5M	3x	as long as short
Lighter RH CASHCAT	+0.0096%	1h	0.1676	+0.084%	$350K	$856K	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1676	+0.084%	$46.1M	$18.7M	3x	as long as short
Aster CASHCATUSDT	+0.0100%	1h	0.1674	−0.028%	$544K	$840K	10x	as long as short
Bybit CASHCATUSDT	+0.0100%	4h	0.1679	+0.251%	$12.8M	$17.1M	10x	as long as short
Arcus CASHCAT-USD	+0.0100%	1h	0.1677	+0.168%	$104K	$303K	5x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1673	−0.119%	$1.5M	$1.6M	20x	as long as short
MEXC CASHCAT_USDT	+0.0100%	4h	0.1677	+0.137%	$8.8M	$538K	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1675	+0.030%	$625K	$2.3M	10x	as long as short

Show all 22 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CASHCAT	+0.0100%	4h	0.1671	−0.220%	$1.1M	$1.3M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1661	−0.788%	$75K	$63K	50x	as long as short
SunX CASHCAT-USDTlong	+0.0100%	1h	0.1675	long leg	—	$1.6M	10x
SoDEX CASHCAT-USD	+0.0100%	1h	0.1675	+0.042%	$503	$987	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1675	+0.013%	$19K	$195K	10x	as long as short
Polymarket Perps CASHCAT-USD	+0.0443%	1h	0.1675	+0.042%	$67K	$1.1M	3x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1676	+0.100%	$246K	$859K	5x	as long as short
BingX CASHCAT-USDTshort	+0.0522%	4h	0.1678	+0.203%	—	$1.1M	—
OKX CASHCAT-USDT-SWAP	+0.0582%	4h	0.1679	+0.263%	$1.3M	$12.0M	20x	as long as short
Nado CASHCAT-PERP	+0.0626%	1h	0.1672	−0.158%	$248K	$185K	5x	as long as short
BloFin CASHCAT-USDT	+0.0802%	4h	0.1674	−0.036%	$53K	$712K	20x	as long as short
edgeX CASHCATUSDC	+0.1054%	4h	0.1663	−0.670%	$50K	$167K	5x	as long as short