Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.098%

Price spread now: Reya against Bitget+0.033%7-day average — · you sell dearer than you buy

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

Long on Bitget 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 pays, funding is against you. Reya is 0.033% dearer against Bitget than usual: you sell high and buy low (spread +0.033% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget POPCATUSDT	0.05506	0.0100	pay 0.0050% / 4h	1h 36m	$1.2M	$887K	50x
Short	Reya POPCATRUSDPERP	0.05508	−0.0228	pay 0.0029% / 1h	36m 12s	$1	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Bitget. 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 BitgetbpFee ReyabpOrdersPrice spread, now +0.033%Rate

Funding earned: −$68.94
Price spread: +0.033% → 0.000%: $3.28
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$83.66
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 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 Bitget live order book, 5 min ago	7.24 bp	48.3 bp −$48	153.9 bp −$1,539	doesn't fit	doesn't fit
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	−0.3374%	1h	0.05443	−1.144%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0929%	1h	0.05500	−0.113%	$141K	$114K	20x	as long as short
Reya POPCATRUSDPERPshort	−0.0228%	1h	0.05508	+0.033%	$1	—	10x
Lighter POPCAT	+0.0096%	1h	0.05505	−0.018%	$100K	$45K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05509	+0.062%	$2.3M	$6.3M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05497	−0.163%	$8.8M	$5.9M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05502	−0.073%	$682K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05504	−0.036%	$432K	$672K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05508	+0.036%	$1.9M	$924K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05515	+0.163%	$1.1M	$997K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDTlong	+0.0100%	4h	0.05506	long leg	$1.2M	$887K	50x
BingX POPCAT-USDT	+0.0100%	4h	0.05502	−0.073%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05519	+0.234%	$506K	$175K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05536	+0.545%	$245K	$490K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05520	+0.254%	$22K	$647K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05507	+0.020%	$97K	$440K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05528	+0.400%	$123K	$285K	50x	as long as short
Hyperliquid POPCAT	+0.0654%	1h	0.05514	+0.145%	$2.5M	$1.1M	3x	as long as short