Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.100%

Price spread now: Reya against BingX−0.012%7-day average — · you buy dearer than you sell

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

Long on BingX Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX POPCAT-USDT	0.05594	0.0100	pay 0.0050% / 4h	46m 02s	—	$6.8M	—
Short	Reya POPCATRUSDPERP	0.05593	−0.0228	pay 0.0029% / 1h	46m 02s	$1	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.012%Rate

Funding earned: −$68.94
Price spread: −0.012% → 0.000%: −$1.23
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$86.16
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 7 min ago; Reya: 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 BingX live order book, 7 min ago	5.36 bp	31.2 bp −$31	70.9 bp −$709	598.7 bp −$59.9K	847.2 bp −$423.6K
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 PERP	−0.4247%	1h	0.05530	−1.144%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERPshort	−0.0228%	1h	0.05593	−0.012%	$1	—	10x
Variational Omni POPCAT	−0.0111%	4h	0.05584	−0.179%	$505K	$163K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05597	+0.054%	$100K	$51K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05601	+0.123%	$2.3M	$6.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05588	−0.107%	$8.8M	$6.4M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05595	+0.018%	$693K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05592	−0.036%	$443K	$635K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05600	+0.107%	$1.8M	$958K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05595	+0.018%	$1.1M	$982K	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	0.05598	+0.072%	$1.2M	$939K	50x	as long as short
BingX POPCAT-USDTlong	+0.0100%	4h	0.05594	long leg	—	$6.8M	—
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05590	−0.072%	$22K	$652K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05594	+0.005%	$95K	$530K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0140%	4h	0.05595	+0.013%	$247K	$502K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05584	−0.179%	$125K	$323K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0579%	1h	0.05595	+0.021%	$150K	$146K	20x	as long as short
Hyperliquid POPCAT	+0.1345%	1h	0.05609	+0.265%	$2.6M	$1.0M	3x	as long as short