POPCAT

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h −0.144%

Price spread now: Extended against Lighter−0.019%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$173as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1321.318% of the position

Long on Lighter Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.411%−$41 on $10k

Price spread, last 4 days (all we have)−0.198%−$20 · spread now −0.019%, 7d avg −0.092%

Together, before fees−0.609%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board−$61 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 0.073% dearer against Lighter than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POPCAT	0.05612	0.0096	pay 0.0012% / 1h	50m 43s	$101K	$46K	10x
Short	Extended POPCAT-USD	0.05611	0.0104	get 0.0013% / 1h	50m 43s	$99K	$440K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.019%Rate

Funding earned: $1.68
Price spread: −0.019% → −0.092%: $7.26
Slippage, 4 orders: −$126.81
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$122.87
Costs to cover: 1.318%
Break-even: 518.9 days

Slippage from Lighter: live order book, 82 min ago; Extended: live order book, 27 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, 82 min ago	10.02 bp	10.9 bp −$11	83.2 bp −$832	doesn't fit	doesn't fit
Sell Extended live order book, 27 min ago	2.73 bp	59.6 bp −$60	359.6 bp −$3,596	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	−0.4208%	1h	0.05471	−2.512%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0974%	1h	0.05580	−0.566%	$146K	$118K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05561	−0.904%	$1	—	10x	as long as short
Lighter POPCATlong	+0.0096%	1h	0.05612	long leg	$101K	$46K	10x
Binance POPCATUSDT	+0.0100%	4h	0.05614	+0.033%	$2.4M	$6.4M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05612	0.000%	$8.9M	$5.9M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05613	+0.018%	$702K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05620	+0.143%	$428K	$616K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05614	+0.036%	$1.9M	$925K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05621	+0.160%	$1.1M	$979K	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	0.05612	0.000%	$1.2M	$902K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05608	−0.071%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05536	−1.350%	$508K	$174K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05567	−0.796%	$246K	$468K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05570	−0.748%	$23K	$648K	25x	as long as short
Extended POPCAT-USDshort	+0.0104%	1h	0.05611	−0.019%	$99K	$440K	10x
BloFin POPCAT-USDT	+0.0340%	4h	0.05562	−0.891%	$123K	$287K	50x	as long as short
Hyperliquid POPCAT	+0.0654%	1h	0.05626	+0.255%	$2.6M	$996K	3x	as long as short