Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.059%

Price spread now: ApeX Omni against BloFin−0.035%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1321.323% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 4 days (all we have)+0.356%+$36 · spread now −0.035%, 7d avg −0.017%

Together, before fees+0.292%+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.064% in total (about -3.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin POPCAT-USDT	0.05792	0.0340	pay 0.0170% / 4h	3h 01m	$131K	$325K	50x
Short	ApeX Omni POPCATUSDT	0.05790	0.0100	get 0.0013% / 1h	1m 44s	$23K	$656K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.035%Rate

Funding earned: −$50.4
Price spread: −0.035% → −0.017%: −$1.77
Slippage, 4 orders: −$110.32
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$184.49
Costs to cover: 1.323%
Break-even: never at this rate

Slippage from BloFin: live order book, 8 min ago; ApeX Omni: live order book, 31 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 BloFin live order book, 8 min ago	9.51 bp	21.7 bp −$22	43.6 bp −$436	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 31 min ago	17.67 bp	47.4 bp −$47	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	−0.4200%	1h	0.05670	−2.106%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1098%	1h	0.05769	−0.405%	$155K	$144K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05776	−0.281%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05773	−0.328%	$101K	$55K	10x	as long as short
Hyperliquid POPCAT	+0.0100%	1h	0.05778	−0.238%	$2.7M	$1.3M	3x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05777	−0.264%	$2.6M	$7.7M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05765	−0.466%	$9.2M	$7.1M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05773	−0.328%	$697K	$1.6M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05770	−0.380%	$435K	$515K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05778	−0.242%	$1.9M	$1.1M	200x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin POPCATUSDTM	+0.0100%	4h	0.05775	−0.294%	$1.1M	$840K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05774	−0.311%	$1.2M	$923K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05768	−0.414%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05773	−0.327%	$489K	$174K	—	as long as short
ApeX Omni POPCATUSDTshort	+0.0100%	1h	0.05790	−0.035%	$23K	$656K	25x
Extended POPCAT-USD	+0.0104%	1h	0.05773	−0.325%	$93K	$753K	10x	as long as short
BloFin POPCAT-USDTlong	+0.0340%	4h	0.05792	long leg	$131K	$325K	50x
GRVT POPCAT_USDT_Perp	+0.0426%	4h	0.05791	−0.017%	$261K	$485K	10x	as long as short