Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against BingX−0.011%7-day average −0.047% · you buy dearer than you sell

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

Long on BingX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.096%+$10 · spread now −0.011%, 7d avg −0.047%

Together, before fees+0.096%+ Points / potential airdropVariational Omni: Active · farm board+$10 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: Variational Omni is 0.036% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX POPCAT-USDC	0.05653	0.0100	pay 0.0050% / 4h	29m 58s	—	$1.6M	—
Short	Variational Omni POPCAT	0.05652	0.0100	get 0.0050% / 4h	29m 58s	$514K	$178K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → −0.047%: $3.57
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$6.43
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 2 min ago; Variational Omni: RFQ quote, 49 min ago. 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, 2 min ago	13.25 bp	77.7 bp −$78	146.5 bp −$1,465	264.0 bp −$26.4K	803.4 bp −$401.7K
Sell Variational Omni RFQ quote, 49 min ago	10.02 bp	doesn't fit	106.6 bp −$1,066	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	−0.4208%	1h	0.05563	−1.592%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0962%	1h	0.05652	−0.011%	$148K	$139K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05652	−0.016%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05657	+0.071%	$102K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05662	+0.157%	$2.4M	$6.6M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05646	−0.124%	$9.0M	$6.1M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05654	+0.018%	$707K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05650	−0.053%	$432K	$644K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05658	+0.088%	$1.9M	$935K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05656	+0.053%	$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	0.05655	+0.035%	$1.2M	$915K	50x	as long as short
BingX POPCAT-USDClong	+0.0100%	4h	0.05653	long leg	—	$1.6M	—
Variational Omni POPCATshort	+0.0100%	4h	0.05652	−0.011%	$514K	$178K	—
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05670	+0.301%	$23K	$646K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05656	+0.052%	$100K	$440K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0182%	4h	0.05681	+0.490%	$258K	$494K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05684	+0.548%	$126K	$297K	50x	as long as short
Hyperliquid POPCAT	+0.0480%	1h	0.05668	+0.262%	$2.6M	$1.0M	3x	as long as short