Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0328%/8h= +35.9% APRpaid last 24h +0.098%

Price spread now: Gate against Reya−0.087%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 Gate

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. Gate is 0.087% cheaper against Reya than usual: you would sell low and buy high (spread −0.087% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 21 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	0.05491	−0.0228	get 0.0029% / 1h	8m 49s	$1	—	10x
Short	Gate POPCAT_USDT	0.05486	0.0100	get 0.0050% / 4h	1h 08m	$432K	$674K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.087%Rate

Funding earned: $68.94
Price spread: −0.087% → 0.000%: −$8.67
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $39.27
Costs to cover: 0.210%
Break-even: 3.0 days

Slippage unknown: Reya: no order-book sample; Gate: live order book, 7 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 Gate live order book, 7 min ago	1.82 bp	109.5 bp −$109	doesn't fit	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	−0.3374%	1h	0.05443	−0.870%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0933%	1h	0.05478	−0.223%	$143K	$118K	20x	as long as short
Reya POPCATRUSDPERPlong	−0.0228%	1h	0.05491	long leg	$1	—	10x
Lighter POPCAT	+0.0096%	1h	0.05491	+0.004%	$100K	$45K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05497	+0.114%	$2.3M	$6.3M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05483	−0.141%	$8.8M	$5.9M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05490	−0.014%	$681K	$1.4M	20x	as long as short
Gate POPCAT_USDTshort	+0.0100%	4h	0.05486	−0.087%	$432K	$674K	50x
MEXC POPCAT_USDT	+0.0100%	4h	0.05495	+0.077%	$1.9M	$929K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05490	−0.014%	$1.1M	$982K	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	0.05489	−0.032%	$1.1M	$893K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05489	−0.032%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05478	−0.228%	$504K	$174K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05503	+0.223%	$243K	$468K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05500	+0.168%	$22K	$645K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05491	+0.007%	$97K	$440K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05496	+0.095%	$123K	$283K	50x	as long as short
Hyperliquid POPCAT	+0.0885%	1h	0.05504	+0.241%	$2.5M	$1.1M	3x	as long as short