Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0492%/8h= −53.9% APRpaid last 24h −0.054%

Price spread now: Kraken Futures against Binance+0.002%7-day average −0.178% · you sell dearer than you buy

Net, funding: paid 7d − costs−$203as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1501.504% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.528%−$53 on $10k

Price spread, last 3 days (all we have)−0.907%−$91 · spread now +0.002%, 7d avg −0.178%

Together, before fees−1.435%−$143 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.180% dearer against Binance than usual: you sell high and buy low (spread +0.002% now, against its 7-day average of −0.178%): +$18 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance POPCATUSDT	0.05668	0.0100	pay 0.0050% / 4h	3h 05m	$2.4M	$6.7M	50x
Short	Kraken Futures PF_POPCATUSD	0.05668	−0.0392	pay 0.0049% / 1h	5m 51s	$151K	$144K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$103.33
Price spread: +0.002% → −0.178%: $17.96
Slippage, 4 orders: −$130.38
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$235.75
Costs to cover: 1.504%
Break-even: never at this rate

Slippage from Binance: live order book, 3 min ago; Kraken Futures: live order book, 1 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 Binance live order book, 3 min ago	2.64 bp	24.1 bp −$24	73.8 bp −$738	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	14.08 bp	44.0 bp −$44	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	−0.4945%	1h	0.05301	−6.481%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSDshort	−0.0392%	1h	0.05668	+0.002%	$151K	$144K	20x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05669	+0.020%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05668	−0.006%	$102K	$46K	10x	as long as short
Binance POPCATUSDTlong	+0.0100%	4h	0.05668	long leg	$2.4M	$6.7M	50x
Bybit POPCATUSDT	+0.0100%	4h	0.05656	−0.218%	$9.0M	$6.2M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05667	−0.024%	$704K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05670	+0.029%	$456K	$649K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05668	−0.006%	$1.9M	$956K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05669	+0.012%	$1.1M	$988K	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	0.05666	−0.041%	$1.2M	$932K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05664	−0.077%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05655	−0.236%	$513K	$163K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05680	+0.206%	$23K	$653K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05664	−0.070%	$97K	$523K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0152%	4h	0.05694	+0.452%	$247K	$481K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05678	+0.170%	$125K	$298K	50x	as long as short
Hyperliquid POPCAT	+0.1518%	1h	0.05683	+0.267%	$2.6M	$968K	3x	as long as short