Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.149%

Price spread now: Binance against Lighter+0.042%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$710.713% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.419%−$42 on $10k

Price spread, last 4 days (all we have)−0.353%−$35 · spread now +0.042%, 7d avg −0.019%

Together, before fees−0.772%+ Points / potential airdropLighter: Season 3 · farm board−$77 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: Binance is 0.061% dearer against Lighter than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POPCAT	0.05486	0.0096	pay 0.0012% / 1h	9m 49s	$100K	$45K	10x
Short	Binance POPCATUSDT	0.05488	0.0100	get 0.0050% / 4h	1h 09m	$2.3M	$6.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now +0.042%Rate

Funding earned: $0.84
Price spread: +0.042% → −0.019%: $6.08
Slippage, 4 orders: −$61.27
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$64.35
Costs to cover: 0.713%
Break-even: 543.3 days

Slippage from Lighter: live order book, 63 min ago; Binance: live order book, 14 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 Lighter live order book, 63 min ago	10.02 bp	10.9 bp −$11	83.2 bp −$832	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	1.82 bp	23.7 bp −$24	74.3 bp −$743	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	−0.3374%	1h	0.05443	−0.784%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0936%	1h	0.05459	−0.486%	$143K	$118K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05487	+0.018%	$1	—	10x	as long as short
Lighter POPCATlong	+0.0096%	1h	0.05486	long leg	$100K	$45K	10x
Binance POPCATUSDTshort	+0.0100%	4h	0.05488	+0.042%	$2.3M	$6.3M	50x
Bybit POPCATUSDT	+0.0100%	4h	0.05478	−0.146%	$8.7M	$5.9M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05485	−0.018%	$680K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05485	−0.018%	$431K	$674K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05488	+0.036%	$1.9M	$929K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05488	+0.036%	$1.1M	$984K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDT	+0.0100%	4h	0.05485	−0.018%	$1.1M	$893K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05487	+0.018%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05478	−0.141%	$504K	$174K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05503	+0.310%	$243K	$468K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05500	+0.255%	$22K	$645K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05486	+0.002%	$97K	$440K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05496	+0.182%	$123K	$283K	50x	as long as short
Hyperliquid POPCAT	+0.0876%	1h	0.05495	+0.170%	$2.5M	$1.1M	3x	as long as short