Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.014%

Price spread now: Bybit against GRVT−0.022%90s7-day average −0.244% · you buy dearer than you sell

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1781.777% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.148%−$15 on $10k

Price spread, last 3 days (all we have)−0.370%−$37 · spread now −0.022%, 7d avg −0.244%

Together, before fees−0.518%+ Points / potential airdropGRVT: Active · farm board−$52 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: Bybit is 0.222% dearer against GRVT than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of −0.244%. The two prices were read 90 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	GRVT POPCAT_USDT_Perp	0.05531	0.0100	pay 0.0050% / 4h	58m 00s	$244K	$468K	10x
Short	Bybit POPCATUSDT	0.05530	0.0100	get 0.0050% / 4h	58m 00s	$8.8M	$5.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → −0.244%: $22.15
Slippage, 4 orders: −$157.66
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$155.5
Costs to cover: 1.777%
Break-even: never at this rate

Slippage from GRVT: live order book, 20 min ago; Bybit: live order book, 5 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, 20 min ago	8.18 bp	70.8 bp −$71	14914.6 bp −$149.1K	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	4.53 bp	30.1 bp −$30	107.3 bp −$1,073	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	−0.4208%	1h	0.05471	−1.089%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0989%	1h	0.05496	−0.632%	$144K	$118K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05537	+0.112%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05539	+0.140%	$100K	$45K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05542	+0.194%	$2.3M	$6.3M	50x	as long as short
Bybit POPCATUSDTshort	+0.0100%	4h	0.05530	−0.022%	$8.8M	$5.9M	50x
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05547	+0.285%	$687K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05530	−0.022%	$435K	$610K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05544	+0.231%	$1.9M	$917K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05531	−0.004%	$1.1M	$980K	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	0.05526	−0.095%	$1.1M	$894K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05535	+0.068%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05517	−0.262%	$506K	$174K	—	as long as short
GRVT POPCAT_USDT_Perplong	+0.0100%	4h	0.05531	long leg	$244K	$468K	10x
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05520	−0.203%	$22K	$645K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05537	+0.111%	$97K	$440K	10x	as long as short
Hyperliquid POPCAT	+0.0337%	1h	0.05551	+0.354%	$2.6M	$1.1M	3x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05533	+0.032%	$123K	$284K	50x	as long as short