Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.4540%/8h= +497.1% APRpaid last 24h +1.406%

Price spread now: BloFin against Injective+1.817%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 BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+5.170%+$517 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 +$136 a day on $10k at the current rate, and BloFin is 1.817% dearer against Injective than usual: you sell high and buy low: +$182 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	0.05670	−0.4200	get 0.0525% / 1h	12m 47s	$3K	$2K	5.5x
Short	BloFin POPCAT-USDT	0.05773	0.0340	get 0.0170% / 4h	3h 12m	$130K	$336K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +1.817%Rate

Funding earned: $953.4
Price spread: +1.817% → 0.000%: $181.66
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $1,123.04
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 62 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 BloFin live order book, 62 min ago	1.74 bp	25.7 bp −$26	81.4 bp −$814	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	−0.4200%	1h	0.05670	long leg	$3K	$2K	5.5x
Kraken Futures PF_POPCATUSD	−0.1103%	1h	0.05744	+1.310%	$155K	$148K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05762	+1.623%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05763	+1.640%	$100K	$55K	10x	as long as short
Hyperliquid POPCAT	+0.0100%	1h	0.05766	+1.693%	$2.7M	$1.4M	3x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05763	+1.644%	$2.5M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05758	+1.552%	$9.2M	$7.4M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05766	+1.693%	$696K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05760	+1.587%	$435K	$514K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05764	+1.658%	$1.9M	$1.1M	200x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin POPCATUSDTM	+0.0100%	4h	0.05762	+1.623%	$1.1M	$849K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05759	+1.570%	$1.2M	$967K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05757	+1.534%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05751	+1.432%	$486K	$174K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05770	+1.764%	$23K	$654K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05760	+1.579%	$93K	$753K	10x	as long as short
BloFin POPCAT-USDTshort	+0.0340%	4h	0.05773	+1.817%	$130K	$336K	50x
GRVT POPCAT_USDT_Perp	+0.0538%	4h	0.05776	+1.866%	$261K	$485K	10x	as long as short