Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.098%

Price spread now: Reya against OKX+0.047%7-day average — · you sell dearer than you buy

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

Long on OKX Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 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 pays, funding is against you. Reya is 0.047% dearer against OKX than usual: you sell high and buy low (spread +0.047% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX POPCAT-USDT-SWAP	0.05666	0.0100	pay 0.0050% / 4h	3h 35m	$705K	$1.5M	20x
Short	Reya POPCATRUSDPERP	0.05669	−0.0228	pay 0.0029% / 1h	35m 53s	$1	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.047%Rate

Funding earned: −$68.94
Price spread: +0.047% → 0.000%: $4.65
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$80.28
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 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 OKX live order book, 1 min ago	0.88 bp	45.2 bp −$45	doesn't fit	doesn't fit	doesn't fit
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 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	−6.442%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0392%	1h	0.05668	+0.027%	$151K	$142K	20x	as long as short
Reya POPCATRUSDPERPshort	−0.0228%	1h	0.05669	+0.047%	$1	—	10x
Lighter POPCAT	+0.0096%	1h	0.05667	+0.018%	$102K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05668	+0.043%	$2.4M	$6.7M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05656	−0.176%	$9.0M	$6.1M	50x	as long as short
OKX POPCAT-USDT-SWAPlong	+0.0100%	4h	0.05666	long leg	$705K	$1.5M	20x
Gate POPCAT_USDT	+0.0100%	4h	0.05663	−0.053%	$457K	$647K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05667	+0.018%	$1.8M	$943K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05669	+0.053%	$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	0.05667	+0.018%	$1.2M	$932K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05664	−0.035%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05653	−0.227%	$514K	$165K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05670	+0.071%	$23K	$651K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05670	+0.063%	$97K	$527K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05666	0.000%	$125K	$297K	50x	as long as short
GRVT POPCAT_USDT_Perp	+0.0588%	4h	0.05667	+0.018%	$254K	$493K	10x	as long as short
Hyperliquid POPCAT	+0.1255%	1h	0.05685	+0.339%	$2.6M	$1.0M	3x	as long as short