Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1542%/8h= −168.8% APRpaid last 24h −0.173%

Price spread now: BingX against Arcus+0.551%7-day average −0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$2232.234% of the position

Long on Arcus Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.299%−$30 on $10k

Price spread, last 4 days (all we have)−0.786%−$79 · spread now +0.551%, 7d avg −0.092%

Together, before fees−1.086%−$109 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.642% dearer against Arcus than usual: you sell high and buy low (spread +0.551% now, against its 7-day average of −0.092%): +$64 on $10k if it goes back. Holding the pair costs −$46 a day in funding at the current rate, which eats that in about 33 hours. At the pace of the last 3 days (−0.299% in total) that is about 7.3 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.299% in total (about -32.3% 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	Arcus CASHCAT-USD	0.1756	0.1786	pay 0.0223% / 1h	46m 09s	$121K	$215K	5x
Short	BingX CASHCAT-USDT	0.1766	0.0244	get 0.0122% / 4h	46m 09s	—	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Arcus. 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 ArcusbpFee BingXbpOrdersPrice spread, now +0.551%Rate

Funding earned: −$323.77
Price spread: +0.551% → −0.092%: $64.23
Slippage, 4 orders: −$208.87
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$482.91
Costs to cover: 2.234%
Break-even: never at this rate

Slippage from Arcus: live order book, 32 min ago; BingX: live order book, 9 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 Arcus live order book, 32 min ago	21.38 bp	117.8 bp −$118	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	8.51 bp	29.1 bp −$29	81.3 bp −$813	538.6 bp −$53.9K	967.1 bp −$483.6K

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 CASHCAT	+0.0100%	1h	0.1762	+0.300%	$49.7M	$18.5M	3x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0100%	4h	0.1768	+0.664%	$1.1M	$10.7M	20x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1757	+0.055%	$1.5M	$1.9M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1763	+0.380%	$596K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1763	+0.373%	$1.5M	$1.6M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1760	+0.203%	$79K	$72K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1757	+0.046%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1767	+0.585%	$530	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1770	+0.773%	$19K	$394K	10x	as long as short
Bybit CASHCATUSDT	+0.0235%	4h	0.1769	+0.704%	$13.2M	$18.1M	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC CASHCAT_USDT	+0.0244%	4h	0.1764	+0.454%	$8.8M	$464K	20x	as long as short
BingX CASHCAT-USDTshort	+0.0244%	4h	0.1766	+0.551%	—	$1.0M	—
Nado CASHCAT-PERP	+0.0256%	1h	0.1758	+0.124%	$248K	$155K	5x	as long as short
edgeX CASHCATUSDC	+0.0278%	4h	0.1762	+0.295%	$53K	$172K	5x	as long as short
BloFin CASHCAT-USDT	+0.0340%	4h	0.1752	−0.247%	$50K	$492K	20x	as long as short
Polymarket Perps CASHCAT-USD	+0.0342%	1h	0.1759	+0.163%	$66K	$1.2M	3x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1764	+0.437%	$96K	$463K	5x	as long as short
Lighter RH CASHCAT	+0.0912%	1h	0.1763	+0.374%	$338K	$815K	3x	as long as short
Lighter CASHCAT	+0.1472%	1h	0.1763	+0.374%	$1.3M	$1.9M	3x	as long as short
Arcus CASHCAT-USDlong	+0.1786%	1h	0.1756	long leg	$121K	$215K	5x
Aster CASHCATUSDT	+0.3062%	1h	0.1760	+0.233%	$578K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1845	+5.049%	$12K	$9K	5.5x	as long as short