Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: SoDEX against Hyperliquid−0.047%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.047% cheaper against Hyperliquid than usual: you would sell low and buy high, −$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid CASHCAT	0.1690	0.0100	pay 0.0013% / 1h	5m 02s	$46.3M	$20.6M	3x
Short	SoDEX CASHCAT-USD	0.1689	0.0100	get 0.0013% / 1h	5m 02s	$507	$1K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Hyperliquid. 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 HyperliquidbpFee SoDEXbpOrdersPrice spread, now −0.047%Rate

Funding earned: $0
Price spread: −0.047% → 0.000%: −$4.73
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$21.73
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 8 min ago; SoDEX: no order-book sample. 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 Hyperliquid live order book, 8 min ago	1.48 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 RH CASHCAT	+0.0096%	1h	0.1691	+0.047%	$328K	$848K	3x	as long as short
Nado CASHCAT-PERP	+0.0100%	1h	0.1689	−0.050%	$253K	$188K	5x	as long as short
Hyperliquid CASHCATlong	+0.0100%	1h	0.1690	long leg	$46.3M	$20.6M	3x
Gate CASHCAT_USDT	+0.0100%	4h	0.1690	0.000%	$1.4M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1692	+0.130%	$597K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1691	+0.079%	$1.4M	$1.5M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1695	+0.314%	$76K	$67K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1691	+0.065%	$68K	$1.3M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1690	−0.015%	—	$2.5M	10x	as long as short
SoDEX CASHCAT-USDshort	+0.0100%	1h	0.1689	−0.047%	$507	$1K	3x

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CASHCAT-USDT	+0.0100%	1h	0.1688	−0.127%	$18K	$372K	10x	as long as short
Extended CASHCAT-USD	+0.0104%	1h	0.1690	+0.001%	$118K	$479K	5x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0383%	4h	0.1694	+0.231%	$1.3M	$10.7M	20x	as long as short
BloFin CASHCAT-USDT	+0.0626%	4h	0.1694	+0.231%	$51K	$503K	20x	as long as short
BingX CASHCAT-USDT	+0.0798%	4h	0.1694	+0.231%	—	$1.0M	—	as long as short
MEXC CASHCAT_USDT	+0.0806%	4h	0.1692	+0.118%	$8.4M	$497K	20x	as long as short
Lighter CASHCAT	+0.0840%	1h	0.1692	+0.095%	$1.2M	$1.9M	3x	as long as short
Bybit CASHCATUSDT	+0.0863%	4h	0.1693	+0.172%	$12.9M	$18.6M	10x	as long as short
edgeX CASHCATUSDC	+0.1100%	4h	0.1697	+0.422%	$51K	$171K	5x	as long as short
Aster CASHCATUSDT	+0.2532%	1h	0.1691	+0.046%	$559K	$1.1M	10x	as long as short
Arcus CASHCAT-USD	+0.3384%	1h	0.1694	+0.238%	$117K	$220K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1722	+1.887%	$9K	$12K	5.5x	as long as short