Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.156%

Price spread now: Reya against KuCoin−0.021%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Reya is 0.021% cheaper against KuCoin than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin POPCATUSDTM	0.05730	0.0100	pay 0.0050% / 4h	59m 55s	$1.1M	$1.0M	50x
Short	Reya POPCATRUSDPERP	0.05729	−0.0228	pay 0.0029% / 1h	59m 55s	$1	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.021%Rate

Funding earned: −$68.94
Price spread: −0.021% → 0.000%: −$2.06
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$89
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 min ago; Reya: no order-book sample. 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 KuCoin live order book, 5 min ago	9.52 bp	179.6 bp −$180	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 PERP	−0.4288%	1h	0.05642	−1.536%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERPshort	−0.0228%	1h	0.05729	−0.021%	$1	—	10x
Variational Omni POPCAT	+0.0029%	4h	0.05717	−0.218%	$492K	$181K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05730	0.000%	$102K	$59K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05730	0.000%	$2.6M	$8.0M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05723	−0.122%	$9.1M	$7.5M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05731	+0.017%	$696K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05733	+0.052%	$444K	$584K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05737	+0.122%	$1.9M	$1.1M	200x	as long as short
KuCoin POPCATUSDTMlong	+0.0100%	4h	0.05730	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	0.05738	+0.140%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05730	0.000%	—	$1.6M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05790	+1.047%	$23K	$659K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05727	−0.054%	$93K	$375K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0138%	4h	0.05781	+0.890%	$264K	$503K	10x	as long as short
Hyperliquid POPCAT	+0.0269%	1h	0.05735	+0.086%	$2.7M	$1.4M	3x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05732	+0.035%	$132K	$363K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0393%	1h	0.05725	−0.082%	$154K	$161K	20x	as long as short