Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Bybit+0.105%89s7-day average +0.141% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as 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−$1111.107% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.447%+$45 · spread now +0.105%, 7d avg +0.141%

Together, before fees+0.447%+$45 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.036% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.141%. The two prices were read 89 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	Bybit POPCATUSDT	0.05704	0.0100	pay 0.0050% / 4h	3h 49m	$9.0M	$7.6M	50x
Short	ApeX Omni POPCATUSDT	0.05710	0.0100	get 0.0013% / 1h	49m 59s	$22K	$655K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.105%Rate

Funding earned: $0
Price spread: +0.105% → +0.141%: −$3.57
Slippage, 4 orders: −$89.68
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$114.25
Costs to cover: 1.107%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; ApeX Omni: live order book, 48 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 Bybit live order book, 3 min ago	4.38 bp	21.3 bp −$21	78.2 bp −$782	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 48 min ago	17.33 bp	32.6 bp −$33	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	0.05655	−0.859%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1112%	1h	0.05697	−0.126%	$153K	$155K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05714	+0.168%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05707	+0.053%	$99K	$55K	10x	as long as short
Hyperliquid POPCAT	+0.0100%	1h	0.05713	+0.156%	$2.7M	$1.4M	3x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05712	+0.138%	$2.5M	$7.9M	50x	as long as short
Bybit POPCATUSDTlong	+0.0100%	4h	0.05704	long leg	$9.0M	$7.6M	50x
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05706	+0.035%	$693K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05720	+0.281%	$436K	$448K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05711	+0.123%	$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	0.05715	+0.193%	$1.1M	$859K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05708	+0.070%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05710	+0.105%	—	$6.9M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05717	+0.229%	$482K	$179K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05715	+0.200%	$258K	$480K	10x	as long as short
ApeX Omni POPCATUSDTshort	+0.0100%	1h	0.05710	+0.105%	$22K	$655K	25x
Extended POPCAT-USD	+0.0104%	1h	0.05711	+0.123%	$92K	$745K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05714	+0.175%	$132K	$341K	50x	as long as short