Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0495%/8h= −54.2% APRpaid last 24h −0.054%

Price spread now: Kraken Futures against MEXC−0.159%51s7-day average −0.172% · you buy dearer than you sell

Net, funding: paid 7d − costs−$168as 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−$1151.151% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.528%−$53 on $10k

Price spread, last 3 days (all we have)−0.850%−$85 · spread now −0.159%, 7d avg −0.172%

Together, before fees−1.378%−$138 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.172%, so right now this pair is about funding alone: −$15 a day on $10k at the current rate. The two prices were read 51 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	0.05635	0.0100	pay 0.0050% / 4h	3h 53m	$1.8M	$936K	200x
Short	Kraken Futures PF_POPCATUSD	0.05626	−0.0395	pay 0.0049% / 1h	53m 23s	$147K	$139K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.159%Rate

Funding earned: −$103.95
Price spread: −0.159% → −0.172%: $1.32
Slippage, 4 orders: −$101.12
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$217.75
Costs to cover: 1.151%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Kraken Futures: live order book, 19 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	6.21 bp	15.9 bp −$16	59.0 bp −$590	115.8 bp −$11.6K	250.5 bp −$125.2K
Sell Kraken Futures live order book, 19 min ago	27.55 bp	42.7 bp −$43	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	−0.4945%	1h	0.05301	−5.927%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSDshort	−0.0395%	1h	0.05626	−0.159%	$147K	$139K	20x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05631	−0.077%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05629	−0.106%	$101K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05635	0.000%	$2.3M	$6.7M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05621	−0.248%	$8.9M	$6.1M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05627	−0.142%	$701K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05622	−0.231%	$430K	$630K	50x	as long as short
MEXC POPCAT_USDTlong	+0.0100%	4h	0.05635	long leg	$1.8M	$936K	200x
KuCoin POPCATUSDTM	+0.0100%	4h	0.05624	−0.195%	$1.1M	$988K	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	0.05622	−0.231%	$1.2M	$930K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05630	−0.089%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05624	−0.191%	$510K	$171K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05620	−0.266%	$23K	$652K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05631	−0.080%	$99K	$435K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05637	+0.035%	$124K	$297K	50x	as long as short
GRVT POPCAT_USDT_Perp	+0.0730%	4h	0.05638	+0.054%	$245K	$493K	10x	as long as short
Hyperliquid POPCAT	+0.0851%	1h	0.05642	+0.124%	$2.6M	$1.0M	3x	as long as short