Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.114%

Price spread now: Extended against KuCoin−0.002%7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$745as in the Funding arb table

Net, price: spread back to 7d avg − costs−$717as in the Price arb table

costs, in and out, $10k−$7247.239% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.209%−$21 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now −0.002%, 7d avg −0.073%

Together, before fees−0.217%+ Points / potential airdropExtended: Active · farm board−$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.071% dearer against KuCoin than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin POPCATUSDTM	0.05601	0.0100	pay 0.0050% / 4h	2h 03m	$1.1M	$989K	50x
Short	Extended POPCAT-USD	0.05601	0.0104	get 0.0013% / 1h	3m 11s	$96K	$525K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpFee ExtendedbpOrdersPrice spread, now −0.002%Rate

Funding earned: $0.84
Price spread: −0.002% → −0.073%: $7.09
Slippage, 4 orders: −$706.85
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$715.92
Costs to cover: 7.239%
Break-even: 5973.0 days

Slippage from KuCoin: live order book, 2 min ago; Extended: live order book, 65 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 KuCoin live order book, 2 min ago	5.35 bp	344.7 bp −$345	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 65 min ago	4.40 bp	88.1 bp −$88	415.4 bp −$4,154	doesn't fit	doesn't fit

POPCAT on 17 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	−0.5000%	1h	0.05524	−1.375%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05603	+0.033%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0049%	4h	0.05588	−0.241%	$506K	$161K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05603	+0.036%	$101K	$52K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05602	+0.018%	$2.3M	$6.8M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05596	−0.089%	$8.8M	$6.3M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05596	−0.089%	$692K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05608	+0.125%	$448K	$639K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05604	+0.054%	$1.8M	$976K	200x	as long as short
KuCoin POPCATUSDTMlong	+0.0100%	4h	0.05601	long leg	$1.1M	$989K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDT	+0.0100%	4h	0.05602	+0.018%	$1.2M	$938K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05596	−0.089%	—	$1.6M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05609	+0.138%	$246K	$496K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05590	−0.196%	$22K	$653K	25x	as long as short
Extended POPCAT-USDshort	+0.0104%	1h	0.05601	−0.002%	$96K	$525K	10x
Kraken Futures PF_POPCATUSD	+0.0636%	1h	0.05598	−0.050%	$150K	$147K	20x	as long as short
Hyperliquid POPCAT	+0.1070%	1h	0.05616	+0.261%	$2.6M	$1.0M	3x	as long as short