Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1125%/8h= +123.2% APRpaid last 24h +0.207%

Price spread now: Hyperliquid against BloFin+0.233%107s7-day average +0.126% · you sell dearer than you buy

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

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.287%+$29 on $10k

Price spread, last 3 days (all we have)+0.044%+$4 · spread now +0.233%, 7d avg +0.126%

Together, before fees+0.331%+ Points / potential airdropHyperliquid: Season 2 · farm board+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$34 a day on $10k at the current rate, and Hyperliquid is 0.107% dearer against BloFin than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.126%. The two prices were read 107 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 0.287% in total (about 15.0% 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	0.05489	0.0340	pay 0.0170% / 4h	2h 37m	$125K	$281K	50x
Short	Hyperliquid POPCAT	0.05502	0.1465	get 0.0183% / 1h	37m 14s	$2.5M	$1.1M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.233%Rate

Funding earned: $236.25
Price spread: +0.233% → +0.126%: $10.7
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $225.95
Costs to cover: 0.210%
Break-even: 0.3 days

Slippage unknown: BloFin: live order book, 46 min ago; Hyperliquid: live order book, 4 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 BloFin live order book, 46 min ago	5.44 bp	25.3 bp −$25	73.5 bp −$735	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	1.55 bp	doesn't fit	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	−0.4569%	1h	0.05434	−1.002%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1071%	1h	0.05475	−0.248%	$139K	$114K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05488	−0.016%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05484	−0.091%	$99K	$45K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05493	+0.073%	$2.3M	$6.3M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05481	−0.146%	$8.8M	$5.8M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05489	0.000%	$675K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05477	−0.219%	$415K	$673K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05492	+0.055%	$1.9M	$911K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05486	−0.055%	$1.1M	$992K	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	0.05489	0.000%	$1.1M	$884K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05487	−0.036%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05482	−0.127%	$502K	$174K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05495	+0.109%	$244K	$501K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05490	+0.018%	$22K	$641K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05488	−0.015%	$97K	$440K	10x	as long as short
BloFin POPCAT-USDTlong	+0.0340%	4h	0.05489	long leg	$125K	$281K	50x
Hyperliquid POPCATshort	+0.1465%	1h	0.05502	+0.233%	$2.5M	$1.1M	3x