Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1199%/8h= +131.3% APRpaid last 24h +0.111%

Price spread now: Gate against Kraken Futures+0.128%7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$278as in the Funding arb table

Net, price: spread back to 7d avg − costs−$321as in the Price arb table

costs, in and out, $10k−$3253.246% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.467%+$47 on $10k

Price spread, last 4 days (all we have)+1.427%+$143 · spread now +0.128%, 7d avg +0.090%

Together, before fees+1.893%+$189 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$36 a day on $10k at the current rate, and Gate is 0.038% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.090%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.467% in total (about 24.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_POPCATUSD	0.05763	−0.1099	get 0.0137% / 1h	12m 02s	$155K	$145K	20x
Short	Gate POPCAT_USDT	0.05770	0.0100	get 0.0050% / 4h	3h 12m	$436K	$514K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Kraken Futures. 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 Kraken FuturesbpFee GatebpOrdersPrice spread, now +0.128%Rate

Funding earned: $251.8
Price spread: +0.128% → +0.090%: $3.84
Slippage, 4 orders: −$299.58
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$68.95
Costs to cover: 3.246%
Break-even: 8.9 days

Slippage from Kraken Futures: live order book, 20 min ago; Gate: live order book, 19 min ago.

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 Kraken Futures live order book, 20 min ago	23.10 bp	71.5 bp −$72	27768.7 bp −$277.7K	doesn't fit	doesn't fit
Sell Gate live order book, 19 min ago	8.90 bp	102.7 bp −$103	doesn't fit	doesn't fit	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	−0.4200%	1h	0.05670	−1.607%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSDlong	−0.1099%	1h	0.05763	long leg	$155K	$145K	20x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05762	−0.010%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05772	+0.163%	$101K	$55K	10x	as long as short
Hyperliquid POPCAT	+0.0100%	1h	0.05779	+0.277%	$2.7M	$1.4M	3x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05779	+0.284%	$2.6M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05771	+0.145%	$9.2M	$7.3M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05774	+0.197%	$698K	$1.7M	20x	as long as short
Gate POPCAT_USDTshort	+0.0100%	4h	0.05770	+0.128%	$436K	$514K	50x
MEXC POPCAT_USDT	+0.0100%	4h	0.05781	+0.319%	$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	0.05772	+0.163%	$1.1M	$849K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05772	+0.163%	$1.2M	$967K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05774	+0.197%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05751	−0.199%	$486K	$174K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05770	+0.128%	$23K	$654K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05773	+0.186%	$93K	$753K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05773	+0.180%	$130K	$336K	50x	as long as short
GRVT POPCAT_USDT_Perp	+0.0538%	4h	0.05776	+0.229%	$261K	$485K	10x	as long as short