Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0427%/8h= +46.8% APRpaid last 24h 0.000%

Price spread now: Bybit against SunX−0.190%46s7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$331as in the Funding arb table

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

costs, in and out, $10k−$3373.372% of the position

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now −0.190%, 7d avg +0.044%

Together, before fees−0.002%$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.234% cheaper against SunX than usual: you would sell low and buy high (spread −0.190% now, against its 7-day average of +0.044%). If the spread goes back, that is −$23 on $10k: about 44 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.058% in total) that is about 28 days. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.058% in total (about 3.0% 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	SunX CASHCAT-USDT	0.1629	0.0100	pay 0.0013% / 1h	54m 29s	—	$2.4M	10x
Short	Bybit CASHCATUSDT	0.1626	0.0527	get 0.0264% / 4h	1h 54m	$12.2M	$19.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.190%Rate

Funding earned: $89.68
Price spread: −0.190% → +0.044%: −$23.43
Slippage, 4 orders: −$318.2
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$270.95
Costs to cover: 3.372%
Break-even: 28.1 days

Slippage from SunX: live order book, 2 min ago; Bybit: 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 SunX live order book, 2 min ago	84.17 bp	102.2 bp −$102	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	3.67 bp	38.0 bp −$38	98.1 bp −$981	doesn't fit	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	+0.0088%	1h	0.1628	−0.055%	$1.1M	$1.8M	3x	as long as short
Lighter RH CASHCAT	+0.0096%	1h	0.1628	−0.055%	$350K	$939K	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1627	−0.117%	$44.5M	$20.1M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1626	−0.203%	$1.5M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1626	−0.190%	$569K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1627	−0.088%	$1.0M	$1.8M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1633	+0.264%	$74K	$59K	50x	as long as short
SunX CASHCAT-USDTlong	+0.0100%	1h	0.1629	long leg	—	$2.4M	10x
SoDEX CASHCAT-USD	+0.0100%	1h	0.1629	+0.012%	$489	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1627	−0.138%	$19K	$297K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CASHCAT-USD	+0.0480%	1h	0.1626	−0.164%	$103K	$751K	5x	as long as short
Bybit CASHCATUSDTshort	+0.0527%	4h	0.1626	−0.190%	$12.2M	$19.1M	10x
MEXC CASHCAT_USDT	+0.0550%	4h	0.1627	−0.117%	$8.1M	$524K	20x	as long as short
Nado CASHCAT-PERP	+0.0678%	1h	0.1622	−0.445%	$207K	$192K	5x	as long as short
edgeX CASHCATUSDC	+0.0780%	4h	0.1634	+0.298%	$49K	$168K	5x	as long as short
Arcus CASHCAT-USD	+0.0990%	1h	0.1633	+0.258%	$101K	$280K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.1012%	1h	0.1626	−0.184%	$63K	$1.3M	3x	as long as short
BingX CASHCAT-USDT	+0.1064%	4h	0.1625	−0.239%	—	$1.1M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.1106%	4h	0.1624	−0.301%	$1.5M	$12.1M	20x	as long as short
BloFin CASHCAT-USDT	+0.1468%	4h	0.1631	+0.129%	$52K	$559K	20x	as long as short
Aster CASHCATUSDT	+0.1593%	1h	0.1629	−0.012%	$546K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1659	+1.848%	$8K	$19K	5.5x	as long as short