Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.084%

Price spread now: Reya against GRVT−0.113%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 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 airdropGRVT: Active · Reya: 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 0.113% cheaper against GRVT than usual: you would sell low and buy high (−$11 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	0.05497	0.0100	pay 0.0050% / 4h	1h 28m	$243K	$490K	10x
Short	Reya POPCATRUSDPERP	0.05491	−0.0228	pay 0.0029% / 1h	28m 35s	$1	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.113%Rate

Funding earned: −$68.94
Price spread: −0.113% → 0.000%: −$11.25
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: −$95.19
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 54 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 GRVT live order book, 54 min ago	5.43 bp	35.6 bp −$36	18842.2 bp −$188.4K	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	−0.3374%	1h	0.05443	−0.982%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0932%	1h	0.05484	−0.240%	$143K	$118K	20x	as long as short
Reya POPCATRUSDPERPshort	−0.0228%	1h	0.05491	−0.113%	$1	—	10x
Lighter POPCAT	+0.0096%	1h	0.05494	−0.055%	$100K	$45K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05499	+0.028%	$2.3M	$6.3M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05487	−0.182%	$8.8M	$5.9M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05494	−0.055%	$681K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05490	−0.127%	$432K	$674K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05497	0.000%	$1.9M	$924K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05498	+0.018%	$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	0.05492	−0.091%	$1.1M	$893K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05492	−0.091%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05481	−0.294%	$503K	$175K	—	as long as short
GRVT POPCAT_USDT_Perplong	+0.0100%	4h	0.05497	long leg	$243K	$490K	10x
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05510	+0.236%	$22K	$647K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05494	−0.046%	$97K	$440K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05492	−0.091%	$123K	$282K	50x	as long as short
Hyperliquid POPCAT	+0.0787%	1h	0.05503	+0.113%	$2.5M	$1.1M	3x	as long as short