Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.4308%/8h= −471.7% APRpaid last 24h −1.297%

Price spread now: Injective against OKX−1.014%7-day average — · you buy dearer than you sell

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

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−4.592%−$459 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$129 a day on $10k at the current rate, and Injective is 1.014% cheaper against OKX than usual: you would sell low and buy high (−$101 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX POPCAT-USDT-SWAP	0.05620	0.0100	pay 0.0050% / 4h	1m 05s	$700K	$1.5M	20x
Short	Injective POPCAT/USDC PERP	0.05563	−0.4208	pay 0.0526% / 1h	1m 05s	$3K	$2K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now −1.014%Rate

Funding earned: −$904.7
Price spread: −1.014% → 0.000%: −$101.42
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,016.15
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 min ago; Injective: 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 OKX live order book, 1 min ago	8.01 bp	43.2 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 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 PERPshort	−0.4208%	1h	0.05563	−1.014%	$3K	$2K	5.5x
Kraken Futures PF_POPCATUSD	−0.0967%	1h	0.05623	+0.057%	$147K	$139K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05620	+0.008%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05623	+0.053%	$101K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05624	+0.071%	$2.3M	$6.6M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05613	−0.125%	$8.9M	$6.1M	50x	as long as short
OKX POPCAT-USDT-SWAPlong	+0.0100%	4h	0.05620	long leg	$700K	$1.5M	20x
Gate POPCAT_USDT	+0.0100%	4h	0.05620	0.000%	$429K	$645K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05623	+0.053%	$1.8M	$942K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05623	+0.053%	$1.1M	$986K	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	0.05619	−0.018%	$1.2M	$926K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05619	−0.018%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05609	−0.191%	$510K	$172K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05620	0.000%	$23K	$649K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05621	+0.016%	$99K	$440K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0132%	4h	0.05630	+0.179%	$245K	$493K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05621	+0.018%	$125K	$294K	50x	as long as short
Hyperliquid POPCAT	+0.0668%	1h	0.05635	+0.265%	$2.6M	$1.0M	3x	as long as short