Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.042%

Price spread now: OKX against GRVT−0.575%7-day average −0.143% · you buy dearer than you sell

Net, funding: paid 7d − costs−$264as in the Funding arb table

Net, price: spread back to 7d avg − costs−$284as in the Price arb table

costs, in and out, $10k−$2402.404% of the position

Long on GRVT Short on OKX

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)−0.488%−$49 · spread now −0.575%, 7d avg −0.143%

Together, before fees−0.728%+ Points / potential airdropGRVT: Active · farm board−$73 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: OKX is 0.432% cheaper against GRVT than usual: you would sell low and buy high, −$43 on $10k if it goes back to its 7-day average of −0.143%.

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 54m	$259K	$480K	10x
Short	OKX POPCAT-USDT-SWAP	0.05706	0.0100	get 0.0050% / 4h	3h 54m	$694K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.575%Rate

Funding earned: $0
Price spread: −0.575% → −0.143%: −$43.24
Slippage, 4 orders: −$221.38
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$283.62
Costs to cover: 2.404%
Break-even: never at this rate

Slippage from GRVT: live order book, 43 min ago; OKX: live order book, 2 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 OKX live order book, 2 min ago	6.98 bp	42.0 bp −$42	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	−0.522%	$2.5M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05692	−0.819%	$9.0M	$7.6M	50x	as long as short
OKX POPCAT-USDT-SWAPshort	+0.0100%	4h	0.05706	−0.575%	$694K	$1.7M	20x
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	0.05705	−0.592%	$1.9M	$1.1M	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05701	−0.662%	$1.1M	$860K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05704	−0.610%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05703	−0.627%	—	$6.9M	—	as long as short
GRVT POPCAT_USDT_Perplong	+0.0100%	4h	0.05739	long leg	$259K	$480K	10x
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05730	−0.157%	$22K	$657K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05704	−0.612%	$92K	$745K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05705	−0.592%	$132K	$340K	50x	as long as short