Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0328%/8h= +35.9% APRpaid last 24h +0.098%

Price spread now: Binance against Reya+0.151%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Binance

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

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Binance is 0.151% dearer against Reya than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya POPCATRUSDPERP	0.05709	−0.0228	get 0.0029% / 1h	23m 14s	$1	—	10x
Short	Binance POPCATUSDT	0.05718	0.0100	get 0.0050% / 4h	23m 14s	$2.6M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Reya. 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 ReyabpFee BinancebpOrdersPrice spread, now +0.151%Rate

Funding earned: $68.94
Price spread: +0.151% → 0.000%: $15.13
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: $68.06
Costs to cover: 0.160%
Break-even: 0.1 days

Slippage unknown: Reya: no order-book sample; Binance: live order book, 16 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Binance live order book, 16 min ago	1.73 bp	22.3 bp −$22	73.3 bp −$733	doesn't fit	doesn't fit

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	−0.5000%	1h	0.05683	−0.458%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERPlong	−0.0228%	1h	0.05709	long leg	$1	—	10x
Kraken Futures PF_POPCATUSD	−0.0162%	1h	0.05700	−0.167%	$153K	$156K	20x	as long as short
Variational Omni POPCAT	+0.0059%	4h	0.05705	−0.074%	$491K	$180K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05714	+0.085%	$100K	$61K	10x	as long as short
Binance POPCATUSDTshort	+0.0100%	4h	0.05718	+0.151%	$2.6M	$8.0M	50x
Bybit POPCATUSDT	+0.0100%	4h	0.05710	+0.015%	$9.1M	$7.6M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05711	+0.032%	$694K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05704	−0.090%	$438K	$548K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05718	+0.155%	$1.9M	$1.1M	200x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin POPCATUSDTM	+0.0100%	4h	0.05707	−0.038%	$1.1M	$1.0M	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05712	+0.050%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05707	−0.038%	—	$1.6M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05710	+0.015%	$22K	$658K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05709	−0.008%	$94K	$746K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0118%	4h	0.05717	+0.137%	$249K	$505K	10x	as long as short
Hyperliquid POPCAT	+0.0227%	1h	0.05716	+0.121%	$2.7M	$1.4M	3x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05715	+0.102%	$134K	$360K	50x	as long as short