Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.039%

Price spread now: GRVT against MEXC+0.495%97s7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1171.169% of the position

Long on MEXC Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.241%+$24 on $10k

Price spread, last 4 days (all we have)−0.205%−$20 · spread now +0.495%, 7d avg +0.090%

Together, before fees+0.036%+ Points / potential airdropGRVT: Active · farm board+$4 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: GRVT is 0.405% dearer against MEXC than usual: you sell high and buy low, +$40 on $10k if it goes back to its 7-day average of +0.090%. The two prices were read 97 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC POPCAT_USDT	0.05681	0.0100	pay 0.0050% / 4h	51m 54s	$1.8M	$934K	200x
Short	GRVT POPCAT_USDT_Perp	0.05709	0.0100	get 0.0050% / 4h	51m 54s	$252K	$452K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against MEXC. 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 MEXCbpFee GRVTbpOrdersPrice spread, now +0.495%Rate

Funding earned: $0
Price spread: +0.495% → +0.090%: $40.49
Slippage, 4 orders: −$103.95
Fee MEXC: 2 bp × 2 orders: −$4
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$76.46
Costs to cover: 1.169%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; GRVT: live order book, 53 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 MEXC live order book, 3 min ago	6.16 bp	14.2 bp −$14	65.8 bp −$658	129.3 bp −$12.9K	255.9 bp −$128.0K
Sell GRVT live order book, 53 min ago	4.37 bp	31.5 bp −$32	doesn't fit	doesn't fit	doesn't fit

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	−0.4412%	1h	0.05667	−0.246%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0363%	1h	0.05678	−0.049%	$151K	$123K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05674	−0.119%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05677	−0.070%	$96K	$49K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05681	0.000%	$2.5M	$6.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05667	−0.246%	$9.1M	$6.6M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05675	−0.106%	$682K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05669	−0.211%	$422K	$457K	50x	as long as short
MEXC POPCAT_USDTlong	+0.0100%	4h	0.05681	long leg	$1.8M	$934K	200x
KuCoin POPCATUSDTM	+0.0100%	4h	0.05672	−0.158%	$1.1M	$767K	50x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDT	+0.0100%	4h	0.05670	−0.194%	$1.2M	$782K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05669	−0.211%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05695	+0.255%	$542K	$184K	—	as long as short
GRVT POPCAT_USDT_Perpshort	+0.0100%	4h	0.05709	+0.495%	$252K	$452K	10x
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05710	+0.510%	$21K	$656K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05673	−0.144%	$92K	$743K	10x	as long as short
Hyperliquid POPCAT	+0.0301%	1h	0.05685	+0.069%	$2.7M	$1.3M	3x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05688	+0.123%	$131K	$295K	50x	as long as short