Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.098%

Price spread now: Reya against Gate−0.180%7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Reya is 0.180% cheaper against Gate than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate POPCAT_USDT	0.05642	0.0100	pay 0.0050% / 4h	3h 56m	$445K	$629K	50x
Short	Reya POPCATRUSDPERP	0.05632	−0.0228	pay 0.0029% / 1h	56m 46s	$1	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.180%Rate

Funding earned: −$68.94
Price spread: −0.180% → 0.000%: −$18.02
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Reya: 3 bp × 2 orders: −$6
Net: −$107.95
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 60 min ago; Reya: 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, 60 min ago	10.68 bp	91.0 bp −$91	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 PERP	−0.4864%	1h	0.05579	−1.117%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERPshort	−0.0228%	1h	0.05632	−0.180%	$1	—	10x
Variational Omni POPCAT	−0.0063%	4h	0.05641	−0.017%	$509K	$162K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05638	−0.071%	$101K	$51K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05642	−0.006%	$2.4M	$7.0M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05627	−0.266%	$8.8M	$6.4M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05636	−0.106%	$696K	$1.5M	20x	as long as short
Gate POPCAT_USDTlong	+0.0100%	4h	0.05642	long leg	$445K	$629K	50x
MEXC POPCAT_USDT	+0.0100%	4h	0.05641	−0.018%	$1.8M	$962K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05641	−0.018%	$1.1M	$978K	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	0.05636	−0.106%	$1.2M	$936K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05636	−0.106%	—	$6.7M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05646	+0.071%	$252K	$502K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05650	+0.142%	$22K	$653K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05633	−0.152%	$96K	$523K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05639	−0.053%	$127K	$328K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0511%	1h	0.05633	−0.151%	$150K	$145K	20x	as long as short
Hyperliquid POPCAT	+0.0617%	1h	0.05644	+0.034%	$2.6M	$1.0M	3x	as long as short