Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.114%

Price spread now: Lighter against Binance−0.053%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$830.828% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.419%+$42 on $10k

Price spread, last 4 days (all we have)+0.196%+$20 · spread now −0.053%, 7d avg +0.013%

Together, before fees+0.615%+ Points / potential airdropLighter: Season 3 · farm board+$62 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: Lighter is 0.066% cheaper against Binance than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance POPCATUSDT	0.05641	0.0100	pay 0.0050% / 4h	3h 57m	$2.4M	$7.0M	50x
Short	Lighter POPCAT	0.05638	0.0096	get 0.0012% / 1h	57m 05s	$101K	$51K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$0.84
Price spread: −0.053% → +0.013%: −$6.6
Slippage, 4 orders: −$72.82
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$90.25
Costs to cover: 0.828%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Lighter: live order book, 33 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, 12 min ago	2.67 bp	24.0 bp −$24	43.2 bp −$432	doesn't fit	doesn't fit
Sell Lighter live order book, 33 min ago	16.80 bp	16.8 bp −$17	520.6 bp −$5,206	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	−0.4864%	1h	0.05579	−1.099%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05632	−0.162%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0063%	4h	0.05641	0.000%	$509K	$162K	—	as long as short
Lighter POPCATshort	+0.0096%	1h	0.05638	−0.053%	$101K	$51K	10x
Binance POPCATUSDTlong	+0.0100%	4h	0.05641	long leg	$2.4M	$7.0M	50x
Bybit POPCATUSDT	+0.0100%	4h	0.05626	−0.266%	$8.8M	$6.4M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05634	−0.124%	$696K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05642	+0.018%	$445K	$629K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05639	−0.035%	$1.8M	$962K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05641	0.000%	$1.1M	$978K	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	0.05634	−0.124%	$1.2M	$936K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05636	−0.089%	—	$1.6M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05646	+0.089%	$252K	$502K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05650	+0.160%	$22K	$653K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05634	−0.121%	$96K	$523K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05639	−0.035%	$127K	$328K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0511%	1h	0.05633	−0.133%	$150K	$145K	20x	as long as short
Hyperliquid POPCAT	+0.0579%	1h	0.05645	+0.069%	$2.6M	$1.0M	3x	as long as short