Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.069%

Price spread now: MEXC against Lighter+0.052%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$600.600% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

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

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.052% dearer against Lighter than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POPCAT	0.05729	0.0096	pay 0.0012% / 1h	19m 25s	$97K	$54K	10x
Short	MEXC POPCAT_USDT	0.05732	0.0100	get 0.0050% / 4h	2h 19m	$1.8M	$1.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.052%Rate

Funding earned: $0.84
Price spread: +0.052% → 0.000%: $5.24
Slippage, 4 orders: −$56
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$53.92
Costs to cover: 0.600%
Break-even: 456.3 days

Slippage from Lighter: live order book, 46 min ago; MEXC: live order book, 5 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, 46 min ago	11.24 bp	12.3 bp −$12	82.3 bp −$823	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	6.11 bp	14.3 bp −$14	68.6 bp −$686	128.1 bp −$12.8K	260.0 bp −$130.0K

POPCAT on 18 exchanges

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	−0.3416%	1h	0.05670	−1.030%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1217%	1h	0.05724	−0.093%	$153K	$127K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05737	+0.132%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0016%	4h	0.05729	−0.003%	$486K	$160K	—	as long as short
Lighter POPCATlong	+0.0096%	1h	0.05729	long leg	$97K	$54K	10x
Binance POPCATUSDT	+0.0100%	4h	0.05734	+0.081%	$2.5M	$7.4M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05723	−0.105%	$9.2M	$6.9M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05728	−0.017%	$691K	$1.6M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05729	0.000%	$431K	$501K	50x	as long as short
MEXC POPCAT_USDTshort	+0.0100%	4h	0.05732	+0.052%	$1.8M	$1.0M	200x

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin POPCATUSDTM	+0.0100%	4h	0.05732	+0.052%	$1.1M	$812K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05730	+0.017%	$1.2M	$838K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05729	0.000%	—	$6.8M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05750	+0.367%	$23K	$658K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05728	−0.026%	$95K	$749K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0238%	4h	0.05743	+0.251%	$252K	$467K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05749	+0.349%	$132K	$302K	50x	as long as short
Hyperliquid POPCAT	+0.0902%	1h	0.05738	+0.150%	$2.7M	$1.3M	3x	as long as short