Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0532%/8h= +58.2% APRpaid last 24h −0.068%

Price spread now: Kraken Futures against OKX+0.002%7-day average −0.121% · you sell dearer than you buy

Net, funding: paid 7d − costs−$241as in the Funding arb table

Net, price: spread back to 7d avg − costs−$175as in the Price arb table

costs, in and out, $10k−$1881.877% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.538%−$54 on $10k

Price spread, last 3 days (all we have)−0.721%−$72 · spread now +0.002%, 7d avg −0.121%

Together, before fees−1.259%−$126 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Kraken Futures is 0.123% dearer against OKX than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.121%. Mind the row above: over the last 7 days funding on this pair cost −0.538%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX POPCAT-USDT-SWAP	0.05638	0.0100	pay 0.0050% / 4h	2h 46m	$696K	$1.5M	20x
Short	Kraken Futures PF_POPCATUSD	0.05638	0.0632	get 0.0079% / 1h	46m 14s	$150K	$144K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.002%Rate

Funding earned: $111.7
Price spread: +0.002% → −0.121%: $12.29
Slippage, 4 orders: −$167.66
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$63.66
Costs to cover: 1.877%
Break-even: 11.0 days

Slippage from OKX: live order book, 6 min ago; Kraken Futures: live order book, 21 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 OKX live order book, 6 min ago	6.21 bp	39.2 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 21 min ago	14.08 bp	44.0 bp −$44	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	−0.5000%	1h	0.05540	−1.738%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05637	−0.015%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05640	+0.035%	$101K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05641	+0.045%	$2.3M	$6.8M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05630	−0.142%	$8.9M	$6.2M	50x	as long as short
OKX POPCAT-USDT-SWAPlong	+0.0100%	4h	0.05638	long leg	$696K	$1.5M	20x
Gate POPCAT_USDT	+0.0100%	4h	0.05640	+0.035%	$453K	$621K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05640	+0.035%	$1.8M	$962K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05644	+0.106%	$1.1M	$991K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05639	+0.018%	$1.2M	$937K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX POPCAT-USDC	+0.0100%	4h	0.05643	+0.089%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05626	−0.211%	$511K	$162K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05654	+0.284%	$247K	$485K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05660	+0.390%	$22K	$655K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05638	+0.006%	$96K	$525K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05654	+0.284%	$125K	$301K	50x	as long as short
Kraken Futures PF_POPCATUSDshort	+0.0632%	1h	0.05638	+0.002%	$150K	$144K	20x
Hyperliquid POPCAT	+0.1296%	1h	0.05652	+0.243%	$2.6M	$985K	3x	as long as short