Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against ApeX Omni−0.801%89s7-day average −0.148% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as 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−$1151.150% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.419%+$42 · spread now −0.801%, 7d avg −0.148%

Together, before fees+0.419%+$42 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: Bybit is 0.652% cheaper against ApeX Omni than usual: you would sell low and buy high, −$65 on $10k if it goes back to its 7-day average of −0.148%. The two prices were read 89 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	0.05620	0.0100	pay 0.0013% / 1h	50m 06s	$22K	$650K	25x
Short	Bybit POPCATUSDT	0.05575	0.0100	get 0.0050% / 4h	50m 06s	$8.8M	$6.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.801%Rate

Funding earned: $0
Price spread: −0.801% → −0.148%: −$65.22
Slippage, 4 orders: −$94.01
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$180.23
Costs to cover: 1.150%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 8 min ago; Bybit: live order book, 3 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, 8 min ago	17.89 bp	38.8 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.67 bp	22.3 bp −$22	100.4 bp −$1,004	doesn't fit	doesn't fit

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	−0.4247%	1h	0.05530	−1.601%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05590	−0.537%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0114%	4h	0.05587	−0.587%	$505K	$163K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05588	−0.569%	$100K	$51K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05591	−0.516%	$2.3M	$6.9M	50x	as long as short
Bybit POPCATUSDTshort	+0.0100%	4h	0.05575	−0.801%	$8.8M	$6.4M	50x
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05582	−0.676%	$693K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05592	−0.498%	$443K	$634K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05590	−0.534%	$1.8M	$958K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05596	−0.427%	$1.1M	$982K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDT	+0.0100%	4h	0.05588	−0.569%	$1.2M	$938K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05583	−0.658%	—	$6.8M	—	as long as short
ApeX Omni POPCATUSDTlong	+0.0100%	1h	0.05620	long leg	$22K	$650K	25x
Extended POPCAT-USD	+0.0104%	1h	0.05587	−0.591%	$95K	$530K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0156%	4h	0.05627	+0.125%	$249K	$493K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05622	+0.036%	$126K	$325K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0580%	1h	0.05585	−0.626%	$149K	$146K	20x	as long as short
Hyperliquid POPCAT	+0.1395%	1h	0.05595	−0.450%	$2.6M	$1.0M	3x	as long as short