Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.099%

Price spread now: Gate against Lighter−0.197%7-day average −0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs−$214as in the Funding arb table

Net, price: spread back to 7d avg − costs−$181as in the Price arb table

costs, in and out, $10k−$1721.717% of the position

Long on Lighter Short on Gate

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)−0.025%−$2 · spread now −0.197%, 7d avg −0.107%

Together, before fees−0.444%+ Points / potential airdropLighter: Season 3 · farm board−$44 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: Gate is 0.090% cheaper against Lighter than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.107%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POPCAT	0.05574	0.0096	pay 0.0012% / 1h	38m 14s	$100K	$56K	10x
Short	Gate POPCAT_USDT	0.05563	0.0100	get 0.0050% / 4h	2h 38m	$441K	$636K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.197%Rate

Funding earned: $0.84
Price spread: −0.197% → −0.107%: −$9.01
Slippage, 4 orders: −$156.75
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$179.92
Costs to cover: 1.717%
Break-even: 1506.3 days

Slippage from Lighter: live order book, 47 min ago; Gate: live order book, 8 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, 47 min ago	12.32 bp	12.3 bp −$12	84.6 bp −$846	doesn't fit	doesn't fit
Sell Gate live order book, 8 min ago	6.24 bp	105.8 bp −$106	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	−0.4088%	1h	0.05563	−0.197%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05567	−0.122%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0086%	4h	0.05571	−0.061%	$474K	$175K	—	as long as short
Lighter POPCATlong	+0.0096%	1h	0.05574	long leg	$100K	$56K	10x
Binance POPCATUSDT	+0.0100%	4h	0.05575	+0.016%	$2.4M	$7.3M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05564	−0.179%	$8.7M	$6.7M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05576	+0.036%	$680K	$1.6M	20x	as long as short
Gate POPCAT_USDTshort	+0.0100%	4h	0.05563	−0.197%	$441K	$636K	50x
MEXC POPCAT_USDT	+0.0100%	4h	0.05570	−0.072%	$1.8M	$997K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05557	−0.305%	$1.1M	$996K	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	0.05565	−0.161%	$1.2M	$951K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05562	−0.215%	—	$6.8M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05572	−0.036%	$248K	$502K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05600	+0.466%	$22K	$655K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05571	−0.062%	$90K	$411K	10x	as long as short
Hyperliquid POPCAT	+0.0137%	1h	0.05568	−0.104%	$2.6M	$1.1M	3x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05556	−0.323%	$128K	$325K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0414%	1h	0.05580	+0.100%	$148K	$146K	20x	as long as short