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 +0.150%

Price spread now: Lighter against Gate+0.073%7-day average +0.112% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$1631.629% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.420%+$42 on $10k

Price spread, last 4 days (all we have)+0.321%+$32 · spread now +0.073%, 7d avg +0.112%

Together, before fees+0.741%+ Points / potential airdropLighter: Season 3 · farm board+$74 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: Lighter is 0.040% cheaper against Gate than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.112%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate POPCAT_USDT	0.05490	0.0100	pay 0.0050% / 4h	2h 34m	$416K	$673K	50x
Short	Lighter POPCAT	0.05494	0.0096	get 0.0012% / 1h	34m 10s	$100K	$45K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$0.84
Price spread: +0.073% → +0.112%: −$3.96
Slippage, 4 orders: −$147.89
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$167.7
Costs to cover: 1.629%
Break-even: never at this rate

Slippage from Gate: live order book, 52 min ago; Lighter: live order book, 47 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 Gate live order book, 52 min ago	9.96 bp	57.5 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 47 min ago	14.50 bp	14.5 bp −$15	442.2 bp −$4,422	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	−1.129%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1068%	1h	0.05490	+0.002%	$140K	$114K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05495	+0.087%	$1	—	10x	as long as short
Lighter POPCATshort	+0.0096%	1h	0.05494	+0.073%	$100K	$45K	10x
Binance POPCATUSDT	+0.0100%	4h	0.05498	+0.146%	$2.3M	$6.3M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05488	−0.036%	$8.8M	$5.8M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05496	+0.109%	$676K	$1.4M	20x	as long as short
Gate POPCAT_USDTlong	+0.0100%	4h	0.05490	long leg	$416K	$673K	50x
MEXC POPCAT_USDT	+0.0100%	4h	0.05500	+0.182%	$1.9M	$912K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05493	+0.055%	$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	0.05493	+0.055%	$1.1M	$884K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05493	+0.055%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05480	−0.177%	$501K	$174K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05495	+0.091%	$244K	$501K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05490	0.000%	$22K	$642K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05494	+0.071%	$97K	$440K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05479	−0.200%	$124K	$281K	50x	as long as short
Hyperliquid POPCAT	+0.1427%	1h	0.05508	+0.335%	$2.5M	$1.1M	3x	as long as short