Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0328%/8h= +35.9% APRpaid last 24h +0.098%

Price spread now: BingX against Reya−0.145%7-day average — · you buy dearer than you sell

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

Long on Reya Short on BingX

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

Funding pays, the price is against you. BingX is 0.145% cheaper against Reya than usual: you would sell low and buy high (spread −0.145% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 35 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya POPCATRUSDPERP	0.05745	−0.0228	get 0.0029% / 1h	32m 55s	$1	—	10x
Short	BingX POPCAT-USDT	0.05737	0.0100	get 0.0050% / 4h	1h 32m	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.145%Rate

Funding earned: $68.94
Price spread: −0.145% → 0.000%: −$14.52
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: $38.41
Costs to cover: 0.160%
Break-even: 3.1 days

Slippage unknown: Reya: no order-book sample; BingX: live order book, 10 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 BingX live order book, 10 min ago	6.11 bp	27.3 bp −$27	60.8 bp −$608	518.2 bp −$51.8K	836.3 bp −$418.2K

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	−0.4288%	1h	0.05642	−1.799%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERPlong	−0.0228%	1h	0.05745	long leg	$1	—	10x
Variational Omni POPCAT	+0.0007%	4h	0.05714	−0.537%	$485K	$174K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05741	−0.076%	$102K	$57K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05747	+0.037%	$2.5M	$7.8M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05729	−0.284%	$9.1M	$7.2M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05746	+0.011%	$695K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05737	−0.145%	$445K	$571K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05747	+0.029%	$1.9M	$1.0M	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05738	−0.128%	$1.1M	$1.0M	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	0.05748	+0.046%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDTshort	+0.0100%	4h	0.05737	−0.145%	—	$6.8M	—
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05740	−0.093%	$22K	$656K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05741	−0.074%	$95K	$375K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0244%	4h	0.05741	−0.076%	$249K	$511K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05742	−0.058%	$131K	$358K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0392%	1h	0.05742	−0.054%	$152K	$155K	20x	as long as short
Hyperliquid POPCAT	+0.0603%	1h	0.05752	+0.123%	$2.7M	$1.4M	3x	as long as short