Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.024%

Price spread now: KuCoin against Lighter−0.124%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$444as in the Funding arb table

Net, price: spread back to 7d avg − costs−$435as in the Price arb table

costs, in and out, $10k−$4244.238% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.202%−$20 on $10k

Price spread, last 4 days (all we have)−0.092%−$9 · spread now −0.124%, 7d avg −0.015%

Together, before fees−0.294%+ Points / potential airdropLighter: Season 3 · farm board−$29 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: KuCoin is 0.109% cheaper against Lighter than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POPCAT	0.05629	0.0096	pay 0.0012% / 1h	53m 44s	$101K	$46K	10x
Short	KuCoin POPCATUSDTM	0.05622	0.0100	get 0.0050% / 4h	3h 53m	$1.1M	$988K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.124%Rate

Funding earned: $0.84
Price spread: −0.124% → −0.015%: −$10.93
Slippage, 4 orders: −$411.81
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$433.91
Costs to cover: 4.238%
Break-even: 3622.9 days

Slippage from Lighter: live order book, 57 min ago; KuCoin: live order book, 1 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, 57 min ago	18.72 bp	18.7 bp −$19	88.0 bp −$880	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	12.45 bp	177.0 bp −$177	821.0 bp −$8,210	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	−0.4945%	1h	0.05301	−5.827%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0395%	1h	0.05626	−0.052%	$147K	$139K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05619	−0.174%	$1	—	10x	as long as short
Lighter POPCATlong	+0.0096%	1h	0.05629	long leg	$101K	$46K	10x
Binance POPCATUSDT	+0.0100%	4h	0.05632	+0.053%	$2.3M	$6.7M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05621	−0.142%	$8.9M	$6.1M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05627	−0.036%	$701K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05621	−0.142%	$430K	$630K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05634	+0.089%	$1.8M	$936K	200x	as long as short
KuCoin POPCATUSDTMshort	+0.0100%	4h	0.05622	−0.124%	$1.1M	$988K	50x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDT	+0.0100%	4h	0.05621	−0.142%	$1.2M	$930K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05630	+0.018%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05624	−0.085%	$510K	$171K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05620	−0.160%	$23K	$652K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05630	+0.011%	$99K	$435K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05637	+0.142%	$124K	$297K	50x	as long as short
GRVT POPCAT_USDT_Perp	+0.0730%	4h	0.05638	+0.161%	$245K	$493K	10x	as long as short
Hyperliquid POPCAT	+0.0835%	1h	0.05641	+0.222%	$2.6M	$1.0M	3x	as long as short