Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.3474%/8h= −380.4% APRpaid last 24h −1.294%

Price spread now: Injective against GRVT−1.680%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−4.741%−$474 on $10k

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

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

Both sides work against this trade now: funding costs −$104 a day on $10k at the current rate, and Injective is 1.680% cheaper against GRVT than usual: you would sell low and buy high (−$168 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	GRVT POPCAT_USDT_Perp	0.05536	0.0100	pay 0.0050% / 4h	1h 36m	$245K	$490K	10x
Short	Injective POPCAT/USDC PERP	0.05443	−0.3374	pay 0.0422% / 1h	36m 47s	$3K	$2K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.680%Rate

Funding earned: −$729.58
Price spread: −1.680% → 0.000%: −$167.99
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$906.59
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 46 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 GRVT live order book, 46 min ago	5.43 bp	35.6 bp −$36	18842.2 bp −$188.4K	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	−0.3374%	1h	0.05443	−1.680%	$3K	$2K	5.5x
Kraken Futures PF_POPCATUSD	−0.0929%	1h	0.05502	−0.613%	$141K	$114K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05514	−0.406%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05510	−0.470%	$100K	$45K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05511	−0.452%	$2.3M	$6.3M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05503	−0.596%	$8.8M	$5.9M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05510	−0.470%	$683K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05512	−0.434%	$433K	$672K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05513	−0.415%	$1.9M	$924K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05517	−0.343%	$1.1M	$997K	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	0.05511	−0.452%	$1.2M	$887K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05516	−0.361%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05519	−0.310%	$506K	$175K	—	as long as short
GRVT POPCAT_USDT_Perplong	+0.0100%	4h	0.05536	long leg	$245K	$490K	10x
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05520	−0.289%	$22K	$647K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05511	−0.451%	$97K	$440K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05528	−0.145%	$123K	$285K	50x	as long as short
Hyperliquid POPCAT	+0.0650%	1h	0.05518	−0.322%	$2.5M	$1.1M	3x	as long as short