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 −0.042%

Price spread now: ApeX Omni against GRVT−0.157%7-day average −0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs−$249as in the Funding arb table

Net, price: spread back to 7d avg − costs−$230as in the Price arb table

costs, in and out, $10k−$2252.255% of the position

Long on GRVT Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.240%−$24 on $10k

Price spread, last 4 days (all we have)+0.096%+$10 · spread now −0.157%, 7d avg −0.109%

Together, before fees−0.144%+ Points / potential airdropGRVT: 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: ApeX Omni is 0.048% cheaper against GRVT than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.109%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT POPCAT_USDT_Perp	0.05739	0.0100	pay 0.0050% / 4h	3h 55m	$259K	$480K	10x
Short	ApeX Omni POPCATUSDT	0.05730	0.0100	get 0.0013% / 1h	55m 11s	$22K	$657K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against GRVT. 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 GRVTbpFee ApeX OmnibpOrdersPrice spread, now −0.157%Rate

Funding earned: $0
Price spread: −0.157% → −0.109%: −$4.75
Slippage, 4 orders: −$206.5
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$230.25
Costs to cover: 2.255%
Break-even: never at this rate

Slippage from GRVT: live order book, 43 min ago; ApeX Omni: live order book, 43 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 GRVT live order book, 43 min ago	5.19 bp	54.0 bp −$54	15571.2 bp −$155.7K	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 43 min ago	17.33 bp	32.6 bp −$33	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	0.05655	−1.464%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1115%	1h	0.05679	−1.047%	$152K	$155K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05693	−0.808%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05693	−0.802%	$99K	$55K	10x	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05718	−0.365%	$484K	$180K	—	as long as short
Hyperliquid POPCAT	+0.0100%	1h	0.05703	−0.622%	$2.7M	$1.4M	3x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05709	−0.523%	$2.5M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05697	−0.732%	$9.0M	$7.6M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05706	−0.575%	$692K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05700	−0.680%	$435K	$447K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC POPCAT_USDT	+0.0100%	4h	0.05699	−0.697%	$1.9M	$1.1M	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05697	−0.732%	$1.1M	$860K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05699	−0.697%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05687	−0.906%	—	$1.6M	—	as long as short
GRVT POPCAT_USDT_Perplong	+0.0100%	4h	0.05739	long leg	$259K	$480K	10x
ApeX Omni POPCATUSDTshort	+0.0100%	1h	0.05730	−0.157%	$22K	$657K	25x
Extended POPCAT-USD	+0.0104%	1h	0.05694	−0.781%	$92K	$745K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05705	−0.592%	$132K	$340K	50x	as long as short