Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0876%/8h= +96.0% APRpaid last 24h +0.086%

Price spread now: GRVT against Reya+0.196%64s7-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 GRVT

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 · GRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and GRVT is 0.196% dearer against Reya than usual: you sell high and buy low: +$20 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 64 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	0.05662	−0.0228	get 0.0029% / 1h	37m 48s	$1	—	10x
Short	GRVT POPCAT_USDT_Perp	0.05673	0.0648	get 0.0324% / 4h	3h 37m	$254K	$493K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.196%Rate

Funding earned: $184.02
Price spread: +0.196% → 0.000%: $19.63
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $188.64
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; GRVT: live order book, 35 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 GRVT live order book, 35 min ago	7.99 bp	46.1 bp −$46	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	−0.4945%	1h	0.05301	−6.374%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0392%	1h	0.05663	+0.022%	$151K	$142K	20x	as long as short
Reya POPCATRUSDPERPlong	−0.0228%	1h	0.05662	long leg	$1	—	10x
Lighter POPCAT	+0.0096%	1h	0.05663	+0.020%	$102K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05665	+0.055%	$2.4M	$6.7M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05650	−0.210%	$9.0M	$6.1M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05663	+0.020%	$704K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05660	−0.033%	$457K	$647K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05664	+0.037%	$1.9M	$942K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05665	+0.055%	$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	0.05662	+0.002%	$1.2M	$931K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05660	−0.033%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05636	−0.464%	$512K	$169K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05660	−0.033%	$23K	$652K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05662	−0.001%	$97K	$527K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05666	+0.073%	$125K	$298K	50x	as long as short
GRVT POPCAT_USDT_Perpshort	+0.0648%	4h	0.05673	+0.196%	$254K	$493K	10x
Hyperliquid POPCAT	+0.1201%	1h	0.05679	+0.300%	$2.6M	$1.0M	3x	as long as short