Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1093%/8h= +119.7% APRpaid last 24h +0.274%

Price spread now: Hyperliquid against Binance+0.136%7-day average +0.100% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.387%+$39 on $10k

Price spread, last 7 days−0.109%−$11 · spread now +0.136%, 7d avg +0.100%

Together, before fees+0.278%+ Points / potential airdropHyperliquid: Season 2 · farm board+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$33 a day on $10k at the current rate, and Hyperliquid is 0.036% dearer against Binance than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.100%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.387% in total (about 20.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance POPCATUSDT	0.05658	0.0100	pay 0.0050% / 4h	30m 54s	$2.4M	$6.9M	50x
Short	Hyperliquid POPCAT	0.05666	0.1193	get 0.0149% / 1h	30m 54s	$2.6M	$1.0M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.136%Rate

Funding earned: $229.5
Price spread: +0.136% → +0.100%: $3.61
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $214.11
Costs to cover: 0.190%
Break-even: 0.5 days

Slippage unknown: Binance: live order book, 8 min ago; Hyperliquid: live order book, 10 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 Binance live order book, 8 min ago	4.45 bp	24.6 bp −$25	90.1 bp −$901	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	3.11 bp	doesn't fit	doesn't fit	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	0.05544	−2.015%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05647	−0.189%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0009%	4h	0.05639	−0.336%	$508K	$163K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05650	−0.141%	$101K	$51K	10x	as long as short
Binance POPCATUSDTlong	+0.0100%	4h	0.05658	long leg	$2.4M	$6.9M	50x
Bybit POPCATUSDT	+0.0100%	4h	0.05641	−0.300%	$8.9M	$6.4M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05652	−0.106%	$699K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05649	−0.159%	$447K	$635K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05656	−0.035%	$1.8M	$964K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05647	−0.194%	$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	0.05652	−0.106%	$1.2M	$939K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05649	−0.159%	—	$1.6M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05620	−0.672%	$22K	$652K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05650	−0.146%	$96K	$525K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0172%	4h	0.05613	−0.801%	$247K	$502K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05652	−0.106%	$126K	$329K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0574%	1h	0.05648	−0.182%	$151K	$146K	20x	as long as short
Hyperliquid POPCATshort	+0.1193%	1h	0.05666	+0.136%	$2.6M	$1.0M	3x