Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.098%

Price spread now: Reya against MEXC−0.007%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC POPCAT_USDT	0.05744	0.0100	pay 0.0050% / 4h	1h 55m	$1.8M	$968K	200x
Short	Reya POPCATRUSDPERP	0.05744	−0.0228	pay 0.0029% / 1h	55m 58s	$1	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.007%Rate

Funding earned: −$68.94
Price spread: −0.007% → 0.000%: −$0.68
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Reya: 3 bp × 2 orders: −$6
Net: −$79.62
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 4 min ago; Reya: no order-book sample. Net counts fees only.

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, 4 min ago	4.34 bp	13.7 bp −$14	64.7 bp −$647	146.1 bp −$14.6K	269.9 bp −$134.9K
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_POPCATUSD	−0.1162%	1h	0.05739	−0.082%	$153K	$123K	20x	as long as short
Reya POPCATRUSDPERPshort	−0.0228%	1h	0.05744	−0.007%	$1	—	10x
Variational Omni POPCAT	+0.0011%	4h	0.05737	−0.128%	$488K	$160K	—	as long as short
Injective POPCAT/USDC PERP	+0.0033%	1h	0.05670	−1.288%	$3K	$2K	5.5x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05744	0.000%	$98K	$53K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05750	+0.104%	$2.6M	$7.3M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05738	−0.104%	$9.2M	$6.8M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05742	−0.035%	$695K	$1.6M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05745	+0.017%	$431K	$468K	50x	as long as short
MEXC POPCAT_USDTlong	+0.0100%	4h	0.05744	long leg	$1.8M	$968K	200x

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin POPCATUSDTM	+0.0100%	4h	0.05750	+0.104%	$1.1M	$801K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05747	+0.052%	$1.2M	$798K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05744	0.000%	—	$6.8M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05750	+0.104%	$22K	$661K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05740	−0.077%	$93K	$748K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0138%	4h	0.05768	+0.417%	$263K	$455K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05756	+0.209%	$132K	$297K	50x	as long as short
Hyperliquid POPCAT	+0.0581%	1h	0.05751	+0.131%	$2.7M	$1.3M	3x	as long as short