Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0290%/8h= +31.8% APRpaid last 24h −0.089%

Price spread now: Kraken Futures against BingX−0.056%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$296as in the Funding arb table

Net, price: spread back to 7d avg − costs−$243as in the Price arb table

costs, in and out, $10k−$2462.463% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.493%−$49 on $10k

Price spread, last 4 days (all we have)−0.913%−$91 · spread now −0.056%, 7d avg −0.093%

Together, before fees−1.406%−$141 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Kraken Futures is 0.037% dearer against BingX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.093%. Mind the row above: over the last 7 days funding on this pair cost −0.493%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX POPCAT-USDC	0.05777	0.0100	pay 0.0050% / 4h	1h 06m	—	$1.6M	—
Short	Kraken Futures PF_POPCATUSD	0.05774	0.0390	get 0.0049% / 1h	6m 11s	$152K	$158K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.056%Rate

Funding earned: $60.91
Price spread: −0.056% → −0.093%: $3.75
Slippage, 4 orders: −$226.34
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$181.68
Costs to cover: 2.463%
Break-even: 27.9 days

Slippage from BingX: live order book, 10 min ago; Kraken Futures: live order book, 36 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, 10 min ago	13.85 bp	69.9 bp −$70	187.0 bp −$1,870	339.9 bp −$34.0K	864.1 bp −$432.0K
Sell Kraken Futures live order book, 36 min ago	25.32 bp	53.3 bp −$53	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	−0.4288%	1h	0.05642	−2.337%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05783	+0.105%	$1	—	10x	as long as short
Variational Omni POPCAT	+0.0020%	4h	0.05772	−0.079%	$497K	$180K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05781	+0.069%	$103K	$59K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05787	+0.173%	$2.6M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05773	−0.069%	$9.2M	$7.4M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05783	+0.104%	$703K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05780	+0.052%	$447K	$578K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05786	+0.156%	$1.9M	$1.0M	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05777	0.000%	$1.2M	$1.0M	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	0.05785	+0.138%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDClong	+0.0100%	4h	0.05777	long leg	—	$1.6M	—
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05800	+0.398%	$23K	$658K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05782	+0.080%	$94K	$381K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0140%	4h	0.05791	+0.235%	$264K	$503K	10x	as long as short
Hyperliquid POPCAT	+0.0261%	1h	0.05787	+0.170%	$2.7M	$1.4M	3x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05796	+0.329%	$133K	$365K	50x	as long as short
Kraken Futures PF_POPCATUSDshort	+0.0390%	1h	0.05774	−0.056%	$152K	$158K	20x