Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0836%/8h= −91.5% APRpaid last 24h −0.136%

Price spread now: OKX against Lighter+0.125%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$140as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$750.753% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.649%−$65 on $10k

Price spread, last 7 days−0.097%−$10 · spread now +0.125%, 7d avg −0.008%

Together, before fees−0.746%+ Points / potential airdropLighter: Season 3 · farm board−$75 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.133% dearer against Lighter than usual: you sell high and buy low (spread +0.125% now, against its 7-day average of −0.008%): +$13 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.649% in total) that is about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CASHCAT	0.1679	0.0936	pay 0.0117% / 1h	48m 05s	$1.2M	$1.9M	3x
Short	OKX CASHCAT-USDT-SWAP	0.1681	0.0100	get 0.0050% / 4h	3h 48m	$1.2M	$10.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Lighter. 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 LighterbpFee OKXbpOrdersPrice spread, now +0.125%Rate

Funding earned: −$175.56
Price spread: +0.125% → −0.008%: $13.31
Slippage, 4 orders: −$65.35
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$237.59
Costs to cover: 0.753%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 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 Lighter live order book, 4 min ago	6.53 bp	7.1 bp −$7	13.0 bp −$130	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	8.93 bp	27.4 bp −$27	95.1 bp −$951	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
Nado CASHCAT-PERP	+0.0100%	1h	0.1679	−0.015%	$259K	$183K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1677	−0.125%	$46.4M	$20.6M	3x	as long as short
OKX CASHCAT-USDT-SWAPshort	+0.0100%	4h	0.1681	+0.125%	$1.2M	$10.8M	20x
Gate CASHCAT_USDT	+0.0100%	4h	0.1675	−0.256%	$1.4M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1675	−0.256%	$589K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1685	+0.384%	$1.4M	$1.5M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1685	+0.375%	$76K	$72K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1680	+0.066%	$67K	$1.3M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1682	+0.209%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1676	−0.173%	$503	$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	0.1691	+0.739%	$18K	$386K	10x	as long as short
Extended CASHCAT-USD	+0.0104%	1h	0.1675	−0.233%	$98K	$466K	5x	as long as short
Lighter RH CASHCAT	+0.0272%	1h	0.1678	−0.077%	$326K	$842K	3x	as long as short
BloFin CASHCAT-USDT	+0.0340%	4h	0.1691	+0.721%	$51K	$508K	20x	as long as short
Lighter CASHCATlong	+0.0936%	1h	0.1679	long leg	$1.2M	$1.9M	3x
Aster CASHCATUSDT	+0.1830%	1h	0.1676	−0.185%	$552K	$1.1M	10x	as long as short
BingX CASHCAT-USDT	+0.2264%	4h	0.1681	+0.125%	—	$1.0M	—	as long as short
MEXC CASHCAT_USDT	+0.2280%	4h	0.1681	+0.119%	$8.4M	$480K	20x	as long as short
edgeX CASHCATUSDC	+0.2477%	4h	0.1679	+0.012%	$50K	$171K	5x	as long as short
Bybit CASHCATUSDT	+0.2594%	4h	0.1682	+0.197%	$12.8M	$18.7M	10x	as long as short
Arcus CASHCAT-USD	+0.3384%	1h	0.1685	+0.352%	$116K	$220K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1699	+1.197%	$8K	$12K	5.5x	as long as short