Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.107%

Price spread now: Lighter RH against Variational Omni−0.056%7-day average −0.300% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.302%+$30 on $10k

Price spread, last 4 days (all we have)−0.464%−$46 · spread now −0.056%, 7d avg −0.300%

Together, before fees−0.162%+ Points / potential airdropVariational Omni: Active · Lighter RH: Points live · farm board−$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter RH is 0.243% dearer against Variational Omni than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.300%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CASHCAT	0.1584	0.0100	pay 0.0050% / 4h	2h 25m	$1.0M	$1.7M	—
Short	Lighter RH CASHCAT	0.1583	0.0096	get 0.0012% / 1h	25m 38s	$332K	$935K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Variational Omni. 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 Variational OmnibpFee Lighter RHbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$0.84
Price spread: −0.056% → −0.300%: $24.35
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $23.51
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Lighter RH: live order book, 22 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 Variational Omni RFQ quote, 3 min ago	9.48 bp	doesn't fit	167.5 bp −$1,675	doesn't fit	doesn't fit
Sell Lighter RH live order book, 22 min ago	9.89 bp	21.8 bp −$22	30.2 bp −$302	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	−0.0768%	1h	0.1581	−0.170%	$1.1M	$1.9M	3x	as long as short
Lighter RH CASHCATshort	+0.0096%	1h	0.1583	−0.056%	$332K	$935K	3x
Hyperliquid CASHCAT	+0.0100%	1h	0.1583	−0.037%	$43.2M	$20.0M	3x	as long as short
Aster CASHCATUSDT	+0.0100%	1h	0.1585	+0.042%	$533K	$1.1M	10x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1581	−0.182%	$1.4M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1582	−0.151%	$559K	$2.4M	10x	as long as short
Variational Omni CASHCATlong	+0.0100%	4h	0.1584	long leg	$1.0M	$1.7M	—
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1585	+0.070%	$72K	$64K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1579	−0.295%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1579	−0.315%	$474	$1K	3x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CASHCAT-USDT	+0.0100%	1h	0.1579	−0.293%	$18K	$305K	10x	as long as short
Nado CASHCAT-PERP	+0.0154%	1h	0.1578	−0.416%	$201K	$192K	5x	as long as short
MEXC CASHCAT_USDT	+0.0308%	4h	0.1583	−0.050%	$7.9M	$521K	20x	as long as short
Bybit CASHCATUSDT	+0.0338%	4h	0.1590	+0.379%	$11.9M	$19.0M	10x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1584	−0.030%	$99K	$747K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0613%	1h	0.1580	−0.258%	$67K	$1.3M	3x	as long as short
edgeX CASHCATUSDC	+0.0951%	4h	0.1584	+0.024%	$48K	$168K	5x	as long as short
BingX CASHCAT-USDT	+0.0988%	4h	0.1587	+0.184%	—	$1.1M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.1048%	4h	0.1588	+0.247%	$1.4M	$11.5M	20x	as long as short
BloFin CASHCAT-USDT	+0.1353%	4h	0.1585	+0.058%	$52K	$526K	20x	as long as short
Arcus CASHCAT-USD	+0.2390%	1h	0.1584	+0.002%	$98K	$271K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1601	+1.068%	$8K	$18K	5.5x	as long as short