Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.4357%/8h= −477.1% APRpaid last 24h −1.319%

Price spread now: Injective against Gate−1.394%54s7-day average — · you buy dearer than you sell

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−4.769%−$477 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$131 a day on $10k at the current rate, and Injective is 1.394% cheaper against Gate than usual: you would sell low and buy high (−$139 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 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	Gate POPCAT_USDT	0.05666	0.0100	pay 0.0050% / 4h	1h 16m	$447K	$638K	50x
Short	Injective POPCAT/USDC PERP	0.05587	−0.4257	pay 0.0532% / 1h	16m 11s	$3K	$2K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now −1.394%Rate

Funding earned: −$914.98
Price spread: −1.394% → 0.000%: −$139.43
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,069.43
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 45 min ago; Injective: no order-book sample. 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, 45 min ago	9.82 bp	80.6 bp −$81	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PERPshort	−0.4257%	1h	0.05587	−1.394%	$3K	$2K	5.5x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05663	−0.048%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0079%	4h	0.05652	−0.248%	$510K	$162K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05666	0.000%	$102K	$51K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05668	+0.035%	$2.4M	$6.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05653	−0.229%	$8.9M	$6.4M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05660	−0.106%	$701K	$1.5M	20x	as long as short
Gate POPCAT_USDTlong	+0.0100%	4h	0.05666	long leg	$447K	$638K	50x
MEXC POPCAT_USDT	+0.0100%	4h	0.05666	0.000%	$1.8M	$959K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05666	0.000%	$1.1M	$986K	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	0.05665	−0.018%	$1.2M	$938K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05661	−0.088%	—	$1.6M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05660	−0.106%	$22K	$651K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05663	−0.053%	$96K	$526K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0164%	4h	0.05677	+0.194%	$251K	$493K	10x	as long as short
Kraken Futures PF_POPCATUSD	+0.0292%	1h	0.05661	−0.091%	$152K	$146K	20x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05677	+0.194%	$126K	$328K	50x	as long as short
Hyperliquid POPCAT	+0.0847%	1h	0.05677	+0.192%	$2.6M	$997K	3x	as long as short