Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0896%/8h= +98.1% APRpaid last 24h +0.044%

Price spread now: OKX against SunX+0.096%47s7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$273as 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−$2822.819% of the position

Long on SunX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.087%+$9 on $10k

Price spread, last 4 days (all we have)−0.435%−$44 · spread now +0.096%, 7d avg +0.023%

Together, before fees−0.348%−$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$27 a day on $10k at the current rate, and OKX is 0.073% dearer against SunX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.023%. The two prices were read 47 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 0.087% in total (about 4.5% 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	0.1610	0.0100	pay 0.0013% / 1h	43m 33s	—	$2.4M	10x
Short	OKX CASHCAT-USDT-SWAP	0.1612	0.0996	get 0.0498% / 4h	3h 43m	$1.5M	$11.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against SunX. 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 SunXbpFee OKXbpOrdersPrice spread, now +0.096%Rate

Funding earned: $188.23
Price spread: +0.096% → +0.023%: $7.28
Slippage, 4 orders: −$263.94
Fee SunX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$86.43
Costs to cover: 2.819%
Break-even: 10.2 days

Slippage from SunX: live order book, 3 min ago; OKX: live order book, 5 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, 3 min ago	81.36 bp	104.0 bp −$104	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	6.23 bp	26.8 bp −$27	77.2 bp −$772	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	+0.0096%	1h	0.1608	−0.165%	$1.1M	$1.8M	3x	as long as short
Bybit CASHCATUSDT	+0.0100%	4h	0.1611	+0.034%	$12.1M	$18.8M	10x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1607	−0.189%	$1.4M	$2.0M	20x	as long as short
MEXC CASHCAT_USDT	+0.0100%	4h	0.1610	−0.016%	$8.0M	$518K	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1609	−0.102%	$559K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1609	−0.114%	$1.0M	$1.7M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1610	−0.059%	$73K	$64K	50x	as long as short
SunX CASHCAT-USDTlong	+0.0100%	1h	0.1610	long leg	—	$2.4M	10x
HTX CASHCAT-USDT	+0.0100%	1h	0.1607	−0.239%	$18K	$322K	10x	as long as short
SoDEX CASHCAT-USD	+0.0101%	1h	0.1610	−0.053%	$483	$1K	3x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid CASHCAT	+0.0104%	1h	0.1610	+0.003%	$44.1M	$19.9M	3x	as long as short
edgeX CASHCATUSDC	+0.0256%	4h	0.1606	−0.264%	$49K	$170K	5x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1610	−0.008%	$169K	$675K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0587%	1h	0.1610	−0.034%	$66K	$1.3M	3x	as long as short
Nado CASHCAT-PERP	+0.0679%	1h	0.1607	−0.214%	$217K	$188K	5x	as long as short
Lighter RH CASHCAT	+0.0904%	1h	0.1611	+0.022%	$307K	$876K	3x	as long as short
BingX CASHCAT-USDT	+0.0958%	4h	0.1611	+0.034%	—	$1.0M	—	as long as short
OKX CASHCAT-USDT-SWAPshort	+0.0996%	4h	0.1612	+0.096%	$1.5M	$11.2M	20x
BloFin CASHCAT-USDT	+0.1312%	4h	0.1609	−0.090%	$52K	$500K	20x	as long as short
Arcus CASHCAT-USD	+0.2486%	1h	0.1608	−0.130%	$97K	$264K	5x	as long as short
Aster CASHCATUSDT	+0.3210%	1h	0.1608	−0.169%	$537K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1631	+1.276%	$8K	$18K	5.5x	as long as short