Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bybit against Extended−0.198%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$185as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$1841.837% of the position

Long on Extended Short on Bybit

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)+0.145%+$14 · spread now −0.198%, 7d avg −0.079%

Together, before fees+0.136%+ Points / potential airdropExtended: Active · farm board+$14 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: Bybit is 0.120% cheaper against Extended than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended POPCAT-USD	0.05681	0.0104	pay 0.0013% / 1h	16m 03s	$97K	$523K	10x
Short	Bybit POPCATUSDT	0.05670	0.0100	get 0.0050% / 4h	3h 16m	$9.0M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.198%Rate

Funding earned: −$0.84
Price spread: −0.198% → −0.079%: −$11.95
Slippage, 4 orders: −$167.68
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$196.47
Costs to cover: 1.837%
Break-even: never at this rate

Slippage from Extended: live order book, 57 min ago; Bybit: 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 Extended live order book, 57 min ago	2.67 bp	57.0 bp −$57	374.6 bp −$3,746	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	3.55 bp	22.4 bp −$22	95.2 bp −$952	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	−6.693%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0391%	1h	0.05679	−0.047%	$151K	$143K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05672	−0.161%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05679	−0.040%	$102K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05685	+0.058%	$2.4M	$6.6M	50x	as long as short
Bybit POPCATUSDTshort	+0.0100%	4h	0.05670	−0.198%	$9.0M	$6.2M	50x
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05680	−0.022%	$705K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05672	−0.163%	$457K	$648K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05681	−0.005%	$1.9M	$951K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05674	−0.128%	$1.1M	$988K	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	0.05678	−0.057%	$1.2M	$928K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05668	−0.233%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05659	−0.390%	$513K	$163K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05660	−0.374%	$22K	$651K	25x	as long as short
Extended POPCAT-USDlong	+0.0104%	1h	0.05681	long leg	$97K	$523K	10x
GRVT POPCAT_USDT_Perp	+0.0190%	4h	0.05665	−0.282%	$254K	$473K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05658	−0.409%	$125K	$297K	50x	as long as short
Hyperliquid POPCAT	+0.1473%	1h	0.05695	+0.242%	$2.6M	$983K	3x	as long as short