Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0291%/8h= +31.9% APRpaid last 24h −0.147%

Price spread now: Kraken Futures against KuCoin+0.007%7-day average −0.182% · you sell dearer than you buy

Net, funding: paid 7d − costs−$513as in the Funding arb table

Net, price: spread back to 7d avg − costs−$423as in the Price arb table

costs, in and out, $10k−$4424.420% of the position

Long on KuCoin Short on Kraken Futures

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)−0.819%−$82 · spread now +0.007%, 7d avg −0.182%

Together, before fees−1.531%−$153 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Kraken Futures is 0.189% dearer against KuCoin than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.182%. Mind the row above: over the last 7 days funding on this pair cost −0.711%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin POPCATUSDTM	0.05755	0.0100	pay 0.0050% / 4h	1h 29m	$1.1M	$1.0M	50x
Short	Kraken Futures PF_POPCATUSD	0.05755	0.0391	get 0.0049% / 1h	29m 31s	$153K	$155K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now +0.007%Rate

Funding earned: $61.17
Price spread: +0.007% → −0.182%: $18.9
Slippage, 4 orders: −$420
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$361.93
Costs to cover: 4.420%
Break-even: 48.4 days

Slippage from KuCoin: live order book, 5 min ago; Kraken Futures: live order book, 13 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, 5 min ago	10.48 bp	180.3 bp −$180	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 13 min ago	25.32 bp	53.3 bp −$53	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	−0.4288%	1h	0.05642	−1.964%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05756	+0.019%	$1	—	10x	as long as short
Variational Omni POPCAT	+0.0006%	4h	0.05720	−0.599%	$493K	$180K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05756	+0.017%	$102K	$57K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05754	−0.014%	$2.5M	$7.8M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05750	−0.087%	$9.1M	$7.2M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05742	−0.226%	$697K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05766	+0.191%	$445K	$573K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05757	+0.035%	$1.9M	$1.0M	200x	as long as short
KuCoin POPCATUSDTMlong	+0.0100%	4h	0.05755	long leg	$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	0.05755	0.000%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05748	−0.122%	—	$1.6M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05730	−0.434%	$22K	$654K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05751	−0.063%	$95K	$375K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0244%	4h	0.05742	−0.219%	$262K	$524K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05742	−0.226%	$131K	$358K	50x	as long as short
Kraken Futures PF_POPCATUSDshort	+0.0391%	1h	0.05755	+0.007%	$153K	$155K	20x
Hyperliquid POPCAT	+0.0579%	1h	0.05749	−0.109%	$2.7M	$1.4M	3x	as long as short