Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.125%

Price spread now: Lighter against KuCoin+0.317%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1531.532% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.675%+$67 on $10k

Price spread, last 7 days−0.365%−$36 · spread now +0.317%, 7d avg +0.040%

Together, before fees+0.310%+ Points / potential airdropLighter: Season 3 · farm board+$31 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 is 0.277% dearer against KuCoin than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of +0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CASHCATUSDTM	0.1609	0.0100	pay 0.0050% / 4h	3h 39m	$557K	$2.4M	10x
Short	Lighter CASHCAT	0.1614	0.0096	get 0.0012% / 1h	39m 48s	$1.1M	$1.8M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.317%Rate

Funding earned: −$0.84
Price spread: +0.317% → +0.040%: $27.68
Slippage, 4 orders: −$141.24
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$126.4
Costs to cover: 1.532%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Lighter: live order book, 7 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 KuCoin live order book, 2 min ago	4.05 bp	74.0 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	5.91 bp	5.9 bp −$6	26.9 bp −$269	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 CASHCATshort	+0.0096%	1h	0.1614	+0.317%	$1.1M	$1.8M	3x
Hyperliquid CASHCAT	+0.0100%	1h	0.1617	+0.497%	$44.2M	$19.9M	3x	as long as short
Bybit CASHCATUSDT	+0.0100%	4h	0.1615	+0.410%	$12.1M	$18.8M	10x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1613	+0.267%	$1.4M	$2.0M	20x	as long as short
MEXC CASHCAT_USDT	+0.0100%	4h	0.1612	+0.199%	$8.0M	$518K	20x	as long as short
KuCoin CASHCATUSDTMlong	+0.0100%	4h	0.1609	long leg	$557K	$2.4M	10x
Variational Omni CASHCAT	+0.0100%	4h	0.1607	−0.095%	$1.0M	$1.7M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1614	+0.336%	$73K	$64K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1610	+0.068%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1610	+0.087%	$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
HTX CASHCAT-USDT	+0.0100%	1h	0.1608	−0.043%	$18K	$321K	10x	as long as short
edgeX CASHCATUSDC	+0.0125%	4h	0.1612	+0.227%	$49K	$169K	5x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1611	+0.125%	$169K	$675K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0607%	1h	0.1610	+0.112%	$66K	$1.3M	3x	as long as short
Nado CASHCAT-PERP	+0.0653%	1h	0.1606	−0.131%	$217K	$180K	5x	as long as short
Lighter RH CASHCAT	+0.0672%	1h	0.1615	+0.404%	$308K	$876K	3x	as long as short
BingX CASHCAT-USDT	+0.0946%	4h	0.1616	+0.460%	—	$1.0M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.0985%	4h	0.1618	+0.584%	$1.5M	$11.2M	20x	as long as short
BloFin CASHCAT-USDT	+0.1281%	4h	0.1612	+0.211%	$52K	$501K	20x	as long as short
Arcus CASHCAT-USD	+0.2486%	1h	0.1608	−0.061%	$97K	$264K	5x	as long as short
Aster CASHCATUSDT	+0.3413%	1h	0.1611	+0.142%	$538K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1626	+1.082%	$8K	$18K	5.5x	as long as short