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% APRnext payment +$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: GRVT against BingX+0.100%7-day average +0.177% · you sell dearer than you buy

Net, funding: paid 7d − costs−$209as in the Funding arb table

Net, price: spread back to 7d avg − costs−$231as in the Price arb table

costs, in and out, $10k−$2242.235% of the position

Long on BingX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.150%+$15 on $10k

Price spread, last 4 days (all we have)+0.964%+$96 · spread now +0.100%, 7d avg +0.177%

Together, before fees+1.113%+ Points / potential airdropGRVT: Active · farm board+$111 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: GRVT is 0.077% cheaper against BingX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.177%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX POPCAT-USDC	0.05594	0.0100	pay 0.0050% / 4h	2h 05m	—	$1.6M	—
Short	GRVT POPCAT_USDT_Perp	0.05600	0.0100	get 0.0050% / 4h	2h 05m	$245K	$496K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against BingX. 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 BingXbpFee GRVTbpOrdersPrice spread, now +0.100%Rate

Funding earned: $0
Price spread: +0.100% → +0.177%: −$7.69
Slippage, 4 orders: −$204.54
Fee BingX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$231.23
Costs to cover: 2.235%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; GRVT: live order book, 62 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 BingX live order book, 11 min ago	13.49 bp	59.8 bp −$60	196.4 bp −$1,964	437.3 bp −$43.7K	929.0 bp −$464.5K
Sell GRVT live order book, 62 min ago	6.15 bp	41.4 bp −$41	doesn't fit	doesn't fit	doesn't fit

POPCAT on 17 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	−0.5000%	1h	0.05524	−1.251%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05600	+0.099%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0049%	4h	0.05588	−0.116%	$506K	$161K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05598	+0.072%	$101K	$52K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05604	+0.177%	$2.3M	$6.8M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05590	−0.072%	$8.8M	$6.3M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05601	+0.125%	$692K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05592	−0.036%	$447K	$639K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05602	+0.143%	$1.8M	$976K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05598	+0.072%	$1.1M	$990K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDT	+0.0100%	4h	0.05593	−0.018%	$1.2M	$938K	50x	as long as short
BingX POPCAT-USDClong	+0.0100%	4h	0.05594	long leg	—	$1.6M	—
GRVT POPCAT_USDT_Perpshort	+0.0100%	4h	0.05600	+0.100%	$245K	$496K	10x
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05590	−0.072%	$22K	$653K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05597	+0.057%	$96K	$525K	10x	as long as short
Kraken Futures PF_POPCATUSD	+0.0636%	1h	0.05599	+0.089%	$150K	$148K	20x	as long as short
Hyperliquid POPCAT	+0.1078%	1h	0.05613	+0.349%	$2.6M	$1.0M	3x	as long as short