Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.4964%/8h= +543.6% APRpaid last 24h +1.318%

Price spread now: Bitget against Injective+1.176%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+4.876%+$488 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$149 a day on $10k at the current rate, and Bitget is 1.176% dearer against Injective than usual: you sell high and buy low: +$118 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective POPCAT/USDC PERP	0.05611	−0.4864	get 0.0608% / 1h	12m 50s	$3K	$2K	5.5x
Short	Bitget POPCATUSDT	0.05677	0.0100	get 0.0050% / 4h	3h 12m	$1.2M	$943K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now +1.176%Rate

Funding earned: $1,042.43
Price spread: +1.176% → 0.000%: $117.63
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $1,148.04
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 3 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 Injective no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	7.03 bp	37.3 bp −$37	123.6 bp −$1,236	doesn't fit	doesn't fit

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 PERPlong	−0.4864%	1h	0.05611	long leg	$3K	$2K	5.5x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05672	+1.080%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0121%	4h	0.05681	+1.239%	$511K	$164K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05675	+1.141%	$102K	$56K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05677	+1.177%	$2.5M	$7.2M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05664	+0.945%	$8.9M	$6.7M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05664	+0.945%	$696K	$1.6M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05680	+1.230%	$447K	$637K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05674	+1.123%	$1.8M	$997K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05675	+1.141%	$1.1M	$987K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDTshort	+0.0100%	4h	0.05677	+1.176%	$1.2M	$943K	50x
BingX POPCAT-USDC	+0.0100%	4h	0.05678	+1.194%	—	$1.6M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05693	+1.463%	$253K	$502K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05700	+1.586%	$22K	$655K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05671	+1.072%	$98K	$339K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05673	+1.105%	$130K	$330K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0507%	1h	0.05673	+1.101%	$151K	$147K	20x	as long as short
Hyperliquid POPCAT	+0.0561%	1h	0.05681	+1.246%	$2.7M	$1.1M	3x	as long as short