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 −0.132%

Price spread now: Bitget against Lighter+0.018%7-day average −0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1501.501% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.420%−$42 on $10k

Price spread, last 4 days (all we have)−0.141%−$14 · spread now +0.018%, 7d avg −0.052%

Together, before fees−0.561%+ Points / potential airdropLighter: Season 3 · farm board−$56 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: Bitget is 0.070% dearer against Lighter than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POPCAT	0.05608	0.0096	pay 0.0012% / 1h	28m 38s	$101K	$52K	10x
Short	Bitget POPCATUSDT	0.05609	0.0100	get 0.0050% / 4h	2h 28m	$1.2M	$941K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.018%Rate

Funding earned: $0.84
Price spread: +0.018% → −0.052%: $6.97
Slippage, 4 orders: −$138.1
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$142.29
Costs to cover: 1.501%
Break-even: 1192.8 days

Slippage from Lighter: live order book, 12 min ago; Bitget: live order book, 3 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, 12 min ago	19.74 bp	21.4 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	6.24 bp	28.4 bp −$28	107.9 bp −$1,079	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	−1.498%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05607	−0.025%	$1	—	10x	as long as short
Variational Omni POPCAT	+0.0037%	4h	0.05601	−0.122%	$509K	$162K	—	as long as short
Lighter POPCATlong	+0.0096%	1h	0.05608	long leg	$101K	$52K	10x
Binance POPCATUSDT	+0.0100%	4h	0.05611	+0.053%	$2.3M	$6.8M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05598	−0.178%	$8.9M	$6.3M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05607	−0.018%	$692K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05601	−0.125%	$446K	$636K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05611	+0.053%	$1.8M	$970K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05605	−0.053%	$1.1M	$991K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDTshort	+0.0100%	4h	0.05609	+0.018%	$1.2M	$941K	50x
BingX POPCAT-USDT	+0.0100%	4h	0.05601	−0.125%	—	$6.8M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05622	+0.250%	$252K	$494K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05620	+0.214%	$22K	$657K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05607	−0.022%	$98K	$524K	10x	as long as short
Kraken Futures PF_POPCATUSD	+0.0636%	1h	0.05606	−0.031%	$149K	$147K	20x	as long as short
Hyperliquid POPCAT	+0.1094%	1h	0.05620	+0.207%	$2.6M	$992K	3x	as long as short