Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0568%/8h= +62.2% APRpaid last 24h +0.138%

Price spread now: BloFin against Reya−0.117%106s7-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 BloFin

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. BloFin is 0.117% cheaper against Reya than usual: you would sell low and buy high (spread −0.117% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 16 hours of funding at the current rate (+$17 a day). The two prices were read 106 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya POPCATRUSDPERP	0.05673	−0.0228	get 0.0029% / 1h	35m 29s	$1	—	10x
Short	BloFin POPCAT-USDT	0.05666	0.0340	get 0.0170% / 4h	3h 35m	$125K	$297K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.117%Rate

Funding earned: $119.34
Price spread: −0.117% → 0.000%: −$11.7
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: $89.64
Costs to cover: 0.180%
Break-even: 1.7 days

Slippage unknown: Reya: no order-book sample; BloFin: live order book, 31 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 BloFin live order book, 31 min ago	8.01 bp	27.7 bp −$28	60.8 bp −$608	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	−0.4945%	1h	0.05301	−6.551%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0392%	1h	0.05668	−0.090%	$151K	$142K	20x	as long as short
Reya POPCATRUSDPERPlong	−0.0228%	1h	0.05673	long leg	$1	—	10x
Lighter POPCAT	+0.0096%	1h	0.05669	−0.064%	$102K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05672	−0.009%	$2.4M	$6.7M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05661	−0.205%	$9.0M	$6.1M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05671	−0.029%	$706K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05663	−0.170%	$457K	$647K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05671	−0.029%	$1.8M	$945K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05669	−0.064%	$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	0.05671	−0.029%	$1.2M	$932K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05670	−0.046%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05653	−0.344%	$514K	$165K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05660	−0.223%	$23K	$652K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05672	−0.010%	$97K	$527K	10x	as long as short
BloFin POPCAT-USDTshort	+0.0340%	4h	0.05666	−0.117%	$125K	$297K	50x
GRVT POPCAT_USDT_Perp	+0.0588%	4h	0.05667	−0.099%	$254K	$493K	10x	as long as short
Hyperliquid POPCAT	+0.1264%	1h	0.05683	+0.188%	$2.6M	$1.0M	3x	as long as short