The Capitals traded defenseman Matt Niskanen to the Flyers in exchange for defenseman Radko Gudas on Friday morning.
Niskanen, 32, has two years remaining on his contract at a $5.2 million cap hit. Gudas, 29, has one year left on his contract and carries a cap hit of $3.35 million.
The Flyers are retaining 30 percent of Gudas' salary in the deal, which works out to be $1.005 million.
The move frees up more cap space for the Capitals, leaving them with a projected $12.481 million with which to work, with eight forwards, six defensemen, and two goaltenders already under contract.