Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.5100%/8h= −558.5% APRpaid last 24h −1.343%

Price spread now: Injective against Binance−1.371%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−5.044%−$504 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$153 a day on $10k at the current rate, and Injective is 1.371% cheaper against Binance than usual: you would sell low and buy high (−$137 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance POPCATUSDT	0.05762	0.0100	pay 0.0050% / 4h	42m 51s	$2.6M	$8.0M	50x
Short	Injective POPCAT/USDC PERP	0.05683	−0.5000	pay 0.0625% / 1h	42m 51s	$3K	$2K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.371%Rate

Funding earned: −$1,071
Price spread: −1.371% → 0.000%: −$137.11
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,218.13
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 11 min ago; Injective: no order-book sample. 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, 11 min ago	3.49 bp	26.6 bp −$27	95.7 bp −$957	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PERPshort	−0.5000%	1h	0.05683	−1.371%	$3K	$2K	5.5x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05763	+0.017%	$1	—	10x	as long as short
Kraken Futures PF_POPCATUSD	−0.0161%	1h	0.05744	−0.314%	$154K	$158K	20x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05759	−0.052%	$102K	$59K	10x	as long as short
Variational Omni POPCAT	+0.0096%	4h	0.05770	+0.137%	$496K	$181K	—	as long as short
Binance POPCATUSDTlong	+0.0100%	4h	0.05762	long leg	$2.6M	$8.0M	50x
Bybit POPCATUSDT	+0.0100%	4h	0.05753	−0.156%	$9.1M	$7.5M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05758	−0.069%	$700K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05760	−0.035%	$442K	$545K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05764	+0.035%	$1.9M	$1.1M	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	0.05768	+0.104%	$1.1M	$1.0M	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05764	+0.035%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05763	+0.017%	—	$1.6M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05770	+0.139%	$23K	$658K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05759	−0.053%	$95K	$409K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0196%	4h	0.05776	+0.242%	$251K	$515K	10x	as long as short
Hyperliquid POPCAT	+0.0335%	1h	0.05768	+0.101%	$2.7M	$1.4M	3x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05779	+0.295%	$133K	$366K	50x	as long as short