Funding you earn now, next payment 00:00 UTC−0.0240%/8h= −26.3% APRnext payment −$1.20 per $10,000 · paid last 24h −0.028%
Price spread now: Bybit against BloFin−0.561%62s7-day average −0.150% · you buy dearer than you sell
Net, funding: paid 7d − costs−$95as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$920.924% of the position
Funding, last 7 days−0.027%−$3 on $10k
+Price spread, last 3 days (all we have)+0.526%+$53 · spread now −0.561%, 7d avg −0.150%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.410% cheaper against BloFin than usual: you would sell low and buy high (−$41 if the spread goes back to its 7-day average of −0.150%). Swap the legs. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.027% in total (about -1.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.20 per $10,000. 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 | 0.05528 | 0.0340 | pay 0.0170% / 4h | 1h 36m | $123K | $285K | 50x |
| Short | Bybit POPCATUSDT | 0.05497 | 0.0100 | get 0.0050% / 4h | 1h 36m | $8.8M | $5.9M | 50x |
BloFin POPCAT-USDT
Bybit POPCATUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against BloFin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$50.4
- Price spread: −0.561% → −0.150%
- −$41.05
- Slippage, 4 orders
- −$69.44
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$183.89
- Costs to cover
- 0.924%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 40 min ago; Bybit: live order book, 2 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, 40 min ago | 2.72 bp | 29.8 bp −$30 | 75.5 bp −$755 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 1.82 bp | 29.1 bp −$29 | 101.7 bp −$1,017 | 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 | −0.3374% | 1h | 0.05443 | −1.538% | $3K | $2K | 5.5x | as long as short |
| Kraken Futures PF_POPCATUSD | −0.0929% | 1h | 0.05500 | −0.511% | $141K | $114K | 20x | as long as short |
| Reya POPCATRUSDPERP | −0.0228% | 1h | 0.05508 | −0.365% | $1 | — | 10x | as long as short |
| Lighter POPCAT | +0.0096% | 1h | 0.05505 | −0.416% | $100K | $45K | 10x | as long as short |
| Binance POPCATUSDT | +0.0100% | 4h | 0.05509 | −0.336% | $2.3M | $6.3M | 50x | as long as short |
| Bybit POPCATUSDTshort | +0.0100% | 4h | 0.05497 | −0.561% | $8.8M | $5.9M | 50x | |
| OKX POPCAT-USDT-SWAP | +0.0100% | 4h | 0.05502 | −0.470% | $682K | $1.4M | 20x | as long as short |
| Gate POPCAT_USDT | +0.0100% | 4h | 0.05504 | −0.434% | $432K | $672K | 50x | as long as short |
| MEXC POPCAT_USDT | +0.0100% | 4h | 0.05508 | −0.362% | $1.9M | $924K | 200x | as long as short |
| KuCoin POPCATUSDTM | +0.0100% | 4h | 0.05515 | −0.235% | $1.1M | $997K | 50x | as long as short |
Injective POPCAT/USDC PERP
Kraken Futures PF_POPCATUSD
Reya POPCATRUSDPERP
Lighter POPCAT
Binance POPCATUSDT
OKX POPCAT-USDT-SWAP
Gate POPCAT_USDT
MEXC POPCAT_USDT
KuCoin POPCATUSDTMShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget POPCATUSDT | +0.0100% | 4h | 0.05506 | −0.398% | $1.2M | $887K | 50x | as long as short |
| BingX POPCAT-USDT | +0.0100% | 4h | 0.05502 | −0.470% | — | $6.8M | — | as long as short |
| Variational Omni POPCAT | +0.0100% | 4h | 0.05519 | −0.165% | $506K | $175K | — | as long as short |
| GRVT POPCAT_USDT_Perp | +0.0100% | 4h | 0.05536 | +0.145% | $245K | $490K | 10x | as long as short |
| ApeX Omni POPCATUSDT | +0.0100% | 1h | 0.05520 | −0.145% | $22K | $647K | 25x | as long as short |
| Extended POPCAT-USD | +0.0104% | 1h | 0.05507 | −0.378% | $97K | $440K | 10x | as long as short |
| BloFin POPCAT-USDTlong | +0.0340% | 4h | 0.05528 | long leg | $123K | $285K | 50x | |
| Hyperliquid POPCAT | +0.0654% | 1h | 0.05514 | −0.253% | $2.5M | $1.1M | 3x | as long as short |
Bitget POPCATUSDT
BingX POPCAT-USDT
Variational Omni POPCAT
GRVT POPCAT_USDT_Perp
ApeX Omni POPCATUSDT
Extended POPCAT-USD
Hyperliquid POPCAT