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 +0.257%

Price spread now: Hyperliquid against Gate+0.245%7-day average +0.217% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.411%+$41 on $10k

Price spread, last 4 days (all we have)+0.167%+$17 · spread now +0.245%, 7d avg +0.217%

Together, before fees+0.578%+ Points / potential airdropHyperliquid: Season 2 · farm board+$58 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: Hyperliquid is 0.028% dearer against Gate than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.217%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate POPCAT_USDT	0.05662	0.0100	pay 0.0050% / 4h	3h 40m	$407K	$470K	50x
Short	Hyperliquid POPCAT	0.05676	0.0100	get 0.0013% / 1h	40m 26s	$2.7M	$1.4M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.245%Rate

Funding earned: $0
Price spread: +0.245% → +0.217%: $2.83
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$21.17
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 56 min ago; Hyperliquid: live order book, 1 min ago. Net counts fees only.

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 Gate live order book, 56 min ago	6.94 bp	48.8 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 1 min ago	2.99 bp	doesn't fit	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	0.05620	−0.742%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1117%	1h	0.05668	+0.100%	$152K	$152K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05671	+0.165%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05671	+0.159%	$99K	$55K	10x	as long as short
Hyperliquid POPCATshort	+0.0100%	1h	0.05676	+0.245%	$2.7M	$1.4M	3x
Binance POPCATUSDT	+0.0100%	4h	0.05672	+0.177%	$2.5M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05660	−0.035%	$9.0M	$7.6M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05669	+0.124%	$687K	$1.7M	20x	as long as short
Gate POPCAT_USDTlong	+0.0100%	4h	0.05662	long leg	$407K	$470K	50x
MEXC POPCAT_USDT	+0.0100%	4h	0.05674	+0.212%	$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	0.05669	+0.124%	$1.1M	$854K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05675	+0.230%	$1.2M	$996K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05666	+0.071%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05661	−0.025%	$479K	$179K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05686	+0.424%	$249K	$487K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05680	+0.318%	$22K	$655K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05674	+0.208%	$96K	$750K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05671	+0.159%	$131K	$339K	50x	as long as short