Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Bybit+0.158%7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1301.302% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.052%−$5 · spread now +0.158%, 7d avg +0.095%

Together, before fees−0.052%−$5 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: OKX is 0.063% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.095%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit POPCATUSDT	0.05708	0.0100	pay 0.0050% / 4h	3h 49m	$9.0M	$7.6M	50x
Short	OKX POPCAT-USDT-SWAP	0.05717	0.0100	get 0.0050% / 4h	3h 49m	$693K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.158%Rate

Funding earned: $0
Price spread: +0.158% → +0.095%: $6.3
Slippage, 4 orders: −$109.16
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$123.87
Costs to cover: 1.302%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; OKX: 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 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 OKX live order book, 2 min ago	3.49 bp	34.7 bp −$35	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	−0.929%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1112%	1h	0.05697	−0.196%	$153K	$155K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05714	+0.098%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05711	+0.053%	$99K	$55K	10x	as long as short
Hyperliquid POPCAT	+0.0100%	1h	0.05717	+0.158%	$2.7M	$1.4M	3x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05714	+0.105%	$2.5M	$7.9M	50x	as long as short
Bybit POPCATUSDTlong	+0.0100%	4h	0.05708	long leg	$9.0M	$7.6M	50x
OKX POPCAT-USDT-SWAPshort	+0.0100%	4h	0.05717	+0.158%	$693K	$1.7M	20x
Gate POPCAT_USDT	+0.0100%	4h	0.05717	+0.158%	$436K	$448K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05713	+0.088%	$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	+0.123%	$1.1M	$859K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05713	+0.088%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05717	+0.158%	—	$6.9M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05717	+0.159%	$482K	$179K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05715	+0.130%	$258K	$480K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05710	+0.035%	$22K	$655K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05717	+0.163%	$92K	$745K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05714	+0.105%	$132K	$341K	50x	as long as short