Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0473%/8h= −51.8% APRpaid last 24h −0.260%

Price spread now: Binance against Hyperliquid−0.229%7-day average −0.097% · you buy dearer than you sell

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

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.340%−$34 on $10k

Price spread, last 7 days+0.185%+$18 · spread now −0.229%, 7d avg −0.097%

Together, before fees−0.155%+ Points / potential airdropHyperliquid: Season 2 · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Binance is 0.132% cheaper against Hyperliquid than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.097%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid POPCAT	0.05686	0.0573	pay 0.0072% / 1h	34m 48s	$2.6M	$1.0M	3x
Short	Binance POPCATUSDT	0.05673	0.0100	get 0.0050% / 4h	34m 48s	$2.4M	$6.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.229%Rate

Funding earned: −$99.4
Price spread: −0.229% → −0.097%: −$13.22
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$131.63
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 6 min ago; Binance: live order book, 4 min ago. 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 Hyperliquid live order book, 6 min ago	2.11 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	4.43 bp	22.7 bp −$23	75.9 bp −$759	714.8 bp −$71.5K	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	0.05594	−1.616%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0967%	1h	0.05620	−1.157%	$150K	$131K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05616	−1.228%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05678	−0.139%	$102K	$46K	10x	as long as short
Binance POPCATUSDTshort	+0.0100%	4h	0.05673	−0.229%	$2.4M	$6.6M	50x
Bybit POPCATUSDT	+0.0100%	4h	0.05662	−0.420%	$9.0M	$6.0M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05668	−0.315%	$709K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05679	−0.121%	$434K	$643K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05673	−0.227%	$1.9M	$935K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05672	−0.244%	$1.1M	$984K	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	0.05670	−0.280%	$1.2M	$912K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05676	−0.174%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05618	−1.188%	$512K	$178K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05640	−0.807%	$23K	$646K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05673	−0.235%	$100K	$440K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0196%	4h	0.05640	−0.807%	$246K	$481K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05624	−1.089%	$124K	$291K	50x	as long as short
Hyperliquid POPCATlong	+0.0573%	1h	0.05686	long leg	$2.6M	$1.0M	3x