Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0294%/8h= −32.2% APRpaid last 24h +0.147%

Price spread now: KuCoin against Kraken Futures+0.128%7-day average +0.182% · you sell dearer than you buy

Net, funding: paid 7d − costs−$396as in the Funding arb table

Net, price: spread back to 7d avg − costs−$472as in the Price arb table

costs, in and out, $10k−$4674.669% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.711%+$71 on $10k

Price spread, last 4 days (all we have)+0.684%+$68 · spread now +0.128%, 7d avg +0.182%

Together, before fees+1.395%+$140 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and KuCoin is 0.054% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.182%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.711%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_POPCATUSD	0.05716	0.0394	pay 0.0049% / 1h	46m 00s	$152K	$155K	20x
Short	KuCoin POPCATUSDTM	0.05723	0.0100	get 0.0050% / 4h	1h 46m	$1.1M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.128%Rate

Funding earned: −$61.74
Price spread: +0.128% → +0.182%: −$5.38
Slippage, 4 orders: −$444.94
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$534.06
Costs to cover: 4.669%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 61 min ago; KuCoin: live order book, 9 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, 61 min ago	25.84 bp	73.7 bp −$74	20054.5 bp −$200.5K	doesn't fit	doesn't fit
Sell KuCoin live order book, 9 min ago	8.71 bp	162.7 bp −$163	822.2 bp −$8,222	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	−0.4288%	1h	0.05642	−1.289%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05719	+0.060%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0021%	4h	0.05716	−0.002%	$485K	$176K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05716	+0.006%	$102K	$57K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05717	+0.023%	$2.5M	$7.7M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05713	−0.047%	$9.0M	$7.1M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05713	−0.047%	$691K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05720	+0.076%	$445K	$570K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05718	+0.041%	$1.8M	$1.0M	200x	as long as short
KuCoin POPCATUSDTMshort	+0.0100%	4h	0.05723	+0.128%	$1.1M	$1.0M	50x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDT	+0.0100%	4h	0.05717	+0.023%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05721	+0.093%	—	$6.8M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05730	+0.251%	$22K	$657K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05716	+0.009%	$95K	$379K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0250%	4h	0.05737	+0.366%	$249K	$511K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05730	+0.251%	$131K	$357K	50x	as long as short
Kraken Futures PF_POPCATUSDlong	+0.0394%	1h	0.05716	long leg	$152K	$155K	20x
Hyperliquid POPCAT	+0.0452%	1h	0.05725	+0.170%	$2.7M	$1.4M	3x	as long as short