Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against ApeX Omni−0.226%68s7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1231.227% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.775%−$78 · spread now −0.226%, 7d avg −0.069%

Together, before fees−0.774%−$77 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: BingX is 0.158% cheaper against ApeX Omni than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.069%. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni POPCATUSDT	0.05740	0.0100	pay 0.0013% / 1h	58m 22s	$22K	$656K	25x
Short	BingX POPCAT-USDT	0.05727	0.0100	get 0.0050% / 4h	3h 58m	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now −0.226%Rate

Funding earned: $0
Price spread: −0.226% → −0.069%: −$15.77
Slippage, 4 orders: −$102.73
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$138.49
Costs to cover: 1.227%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 40 min ago; BingX: live order book, 9 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 ApeX Omni live order book, 40 min ago	17.33 bp	35.4 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	6.09 bp	31.4 bp −$31	71.1 bp −$711	502.3 bp −$50.2K	805.8 bp −$402.9K

POPCAT on 18 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
Injective POPCAT/USDC PERP	−0.4200%	1h	0.05687	−0.923%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1107%	1h	0.05723	−0.292%	$153K	$155K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05729	−0.188%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05726	−0.244%	$100K	$55K	10x	as long as short
Hyperliquid POPCAT	+0.0100%	1h	0.05735	−0.084%	$2.7M	$1.4M	3x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05734	−0.111%	$2.6M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05718	−0.383%	$9.1M	$7.5M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05724	−0.279%	$696K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05721	−0.331%	$437K	$447K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05733	−0.122%	$1.9M	$1.0M	200x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin POPCATUSDTM	+0.0100%	4h	0.05729	−0.192%	$1.1M	$860K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05734	−0.105%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDTshort	+0.0100%	4h	0.05727	−0.226%	—	$6.8M	—
Variational Omni POPCAT	+0.0100%	4h	0.05716	−0.423%	$485K	$180K	—	as long as short
ApeX Omni POPCATUSDTlong	+0.0100%	1h	0.05740	long leg	$22K	$656K	25x
Extended POPCAT-USD	+0.0104%	1h	0.05730	−0.181%	$93K	$745K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0138%	4h	0.05744	+0.067%	$259K	$480K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05732	−0.139%	$132K	$342K	50x	as long as short