Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0444%/8h= −48.6% APRpaid last 24h +0.083%

Price spread now: Lighter against Variational Omni−0.758%7-day average −0.213% · 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

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.198%+$20 on $10k

Price spread, last 7 days+0.753%+$75 · spread now −0.758%, 7d avg −0.213%

Together, before fees+0.951%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$95 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Lighter is 0.545% cheaper against Variational Omni than usual: you would sell low and buy high (−$54 if the spread goes back to its 7-day average of −0.213%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.198%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CASHCAT	0.1650	0.0100	pay 0.0050% / 4h	1h 28m	$1.1M	$1.8M	—
Short	Lighter CASHCAT	0.1637	−0.0344	pay 0.0043% / 1h	28m 43s	$1.1M	$1.8M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.758%Rate

Funding earned: −$93.24
Price spread: −0.758% → −0.213%: −$54.48
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$147.72
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, just now; Lighter: live order book, 8 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, just now	9.09 bp	doesn't fit	124.2 bp −$1,242	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	5.82 bp	5.8 bp −$6	17.8 bp −$178	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	−0.0344%	1h	0.1637	−0.758%	$1.1M	$1.8M	3x
Lighter RH CASHCAT	+0.0096%	1h	0.1640	−0.601%	$341K	$960K	3x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1641	−0.516%	$44.9M	$20.3M	3x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1643	−0.449%	$1.5M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1643	−0.449%	$577K	$2.4M	10x	as long as short
Variational Omni CASHCATlong	+0.0100%	4h	0.1650	long leg	$1.1M	$1.8M	—
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1644	−0.370%	$75K	$59K	50x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1648	−0.113%	—	$2.4M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1647	−0.170%	$494	$1K	3x	as long as short
HTX CASHCAT-USDT	+0.0100%	1h	0.1647	−0.173%	$20K	$291K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CASHCATUSDT	+0.0260%	4h	0.1638	−0.692%	$12.2M	$19.2M	10x	as long as short
MEXC CASHCAT_USDT	+0.0276%	4h	0.1643	−0.407%	$8.2M	$529K	20x	as long as short
Nado CASHCAT-PERP	+0.0299%	1h	0.1646	−0.267%	$207K	$194K	5x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1643	−0.391%	$106K	$756K	5x	as long as short
Polymarket Perps CASHCAT-USD	+0.0707%	1h	0.1649	−0.079%	$65K	$1.3M	3x	as long as short
BingX CASHCAT-USDT	+0.0952%	4h	0.1641	−0.540%	—	$1.1M	—	as long as short
OKX CASHCAT-USDT-SWAP	+0.0974%	4h	0.1636	−0.843%	$1.4M	$12.2M	20x	as long as short
Arcus CASHCAT-USD	+0.0990%	1h	0.1655	+0.296%	$117K	$295K	5x	as long as short
edgeX CASHCATUSDC	+0.1193%	4h	0.1649	−0.053%	$50K	$169K	5x	as long as short
BloFin CASHCAT-USDT	+0.1282%	4h	0.1647	−0.176%	$52K	$565K	20x	as long as short
Aster CASHCATUSDT	+0.1373%	1h	0.1645	−0.284%	$552K	$1.1M	10x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1664	+0.854%	$8K	$19K	5.5x	as long as short