Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Bybit+0.180%7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$195as in the Funding arb table

Net, price: spread back to 7d avg − costs−$186as in the Price arb table

costs, in and out, $10k−$1961.958% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.135%−$13 · spread now +0.180%, 7d avg +0.077%

Together, before fees−0.126%+ Points / potential airdropExtended: Active · farm board−$13 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: Extended is 0.103% dearer against Bybit than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit POPCATUSDT	0.05483	0.0100	pay 0.0050% / 4h	2h 30m	$8.8M	$5.8M	50x
Short	Extended POPCAT-USD	0.05493	0.0104	get 0.0013% / 1h	30m 33s	$97K	$440K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.180%Rate

Funding earned: $0.84
Price spread: +0.180% → +0.077%: $10.31
Slippage, 4 orders: −$179.82
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$184.67
Costs to cover: 1.958%
Break-even: 1545.9 days

Slippage from Bybit: live order book, 3 min ago; Extended: live order book, 57 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	0.91 bp	24.4 bp −$24	94.4 bp −$944	doesn't fit	doesn't fit
Sell Extended live order book, 57 min ago	2.71 bp	77.8 bp −$78	419.0 bp −$4,190	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	0.05428	−1.003%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1069%	1h	0.05481	−0.030%	$140K	$114K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05493	+0.183%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05494	+0.201%	$100K	$45K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05496	+0.235%	$2.3M	$6.3M	50x	as long as short
Bybit POPCATUSDTlong	+0.0100%	4h	0.05483	long leg	$8.8M	$5.8M	50x
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05493	+0.182%	$675K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05490	+0.128%	$416K	$673K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05494	+0.201%	$1.9M	$913K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05490	+0.128%	$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	0.05490	+0.128%	$1.1M	$884K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05486	+0.055%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05480	−0.049%	$501K	$174K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05498	+0.271%	$244K	$489K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05500	+0.310%	$22K	$644K	25x	as long as short
Extended POPCAT-USDshort	+0.0104%	1h	0.05493	+0.180%	$97K	$440K	10x
BloFin POPCAT-USDT	+0.0340%	4h	0.05494	+0.201%	$124K	$282K	50x	as long as short
Hyperliquid POPCAT	+0.1401%	1h	0.05505	+0.396%	$2.5M	$1.1M	3x	as long as short