Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0732%/8h= −80.2% APRpaid last 24h −0.092%

Price spread now: Kraken Futures against BloFin−0.098%57s7-day average −0.176% · you buy dearer than you sell

Net, funding: paid 7d − costs−$188as 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−$1311.314% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.563%−$56 on $10k

Price spread, last 3 days (all we have)−0.746%−$75 · spread now −0.098%, 7d avg −0.176%

Together, before fees−1.310%−$131 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.078% dearer against BloFin than usual: you sell high and buy low (spread −0.098% now, against its 7-day average of −0.176%): +$8 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.563% in total) that is about 23 hours. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin POPCAT-USDT	0.05668	0.0340	pay 0.0170% / 4h	3h 32m	$125K	$297K	50x
Short	Kraken Futures PF_POPCATUSD	0.05662	−0.0392	pay 0.0049% / 1h	32m 22s	$151K	$142K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$153.81
Price spread: −0.098% → −0.176%: $7.76
Slippage, 4 orders: −$109.44
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$277.49
Costs to cover: 1.314%
Break-even: never at this rate

Slippage from BloFin: live order book, 34 min ago; Kraken Futures: live order book, 40 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, 34 min ago	8.01 bp	20.7 bp −$21	61.5 bp −$615	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 40 min ago	27.55 bp	42.7 bp −$43	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	−0.4945%	1h	0.05301	−6.475%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSDshort	−0.0392%	1h	0.05662	−0.098%	$151K	$142K	20x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05652	−0.275%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05661	−0.124%	$102K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05658	−0.175%	$2.4M	$6.7M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05649	−0.335%	$9.0M	$6.1M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05651	−0.300%	$704K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05663	−0.088%	$457K	$647K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05658	−0.176%	$1.8M	$945K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05656	−0.212%	$1.1M	$989K	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	0.05654	−0.247%	$1.2M	$932K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05661	−0.124%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05653	−0.262%	$514K	$165K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05660	−0.141%	$23K	$652K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05660	−0.144%	$97K	$527K	10x	as long as short
BloFin POPCAT-USDTlong	+0.0340%	4h	0.05668	long leg	$125K	$297K	50x
GRVT POPCAT_USDT_Perp	+0.0442%	4h	0.05674	+0.101%	$254K	$473K	10x	as long as short
Hyperliquid POPCAT	+0.1330%	1h	0.05669	+0.018%	$2.6M	$1.0M	3x	as long as short