Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.5045%/8h= +552.4% APRpaid last 24h +1.298%

Price spread now: MEXC against Injective+7.282%85s7-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 MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+4.646%+$465 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 +$151 a day on $10k at the current rate, and MEXC is 7.282% dearer against Injective than usual: you sell high and buy low: +$728 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective POPCAT/USDC PERP	0.05301	−0.4945	get 0.0618% / 1h	9m 42s	$3K	$2K	5.5x
Short	MEXC POPCAT_USDT	0.05687	0.0100	get 0.0050% / 4h	3h 09m	$1.9M	$953K	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +7.282%Rate

Funding earned: $1,059.38
Price spread: +7.282% → 0.000%: $728.16
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 2 bp × 2 orders: −$4
Net: $1,783.52
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 2 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 MEXC live order book, 2 min ago	7.03 bp	17.4 bp −$17	51.8 bp −$518	129.8 bp −$13.0K	264.7 bp −$132.3K

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	−0.4945%	1h	0.05301	long leg	$3K	$2K	5.5x
Kraken Futures PF_POPCATUSD	−0.0391%	1h	0.05683	+7.206%	$151K	$144K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05687	+7.289%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05684	+7.225%	$102K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05686	+7.263%	$2.3M	$6.7M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05671	+6.980%	$9.0M	$6.2M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05680	+7.150%	$706K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05683	+7.206%	$457K	$649K	50x	as long as short
MEXC POPCAT_USDTshort	+0.0100%	4h	0.05687	+7.282%	$1.9M	$953K	200x
KuCoin POPCATUSDTM	+0.0100%	4h	0.05684	+7.225%	$1.1M	$988K	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	0.05685	+7.244%	$1.2M	$932K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05679	+7.131%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05666	+6.887%	$514K	$163K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05680	+7.150%	$23K	$650K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05682	+7.183%	$97K	$523K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0156%	4h	0.05682	+7.187%	$246K	$481K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05690	+7.338%	$125K	$299K	50x	as long as short
Hyperliquid POPCAT	+0.1498%	1h	0.05699	+7.499%	$2.6M	$968K	3x	as long as short