Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Variational Omni+0.021%73s7-day average +0.136% · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.110%+$11 · spread now +0.021%, 7d avg +0.136%

Together, before fees+0.113%+ Points / potential airdropVariational Omni: Active · farm board+$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.116% cheaper against Variational Omni than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.136%. The two prices were read 73 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	Variational Omni POPCAT	0.05519	0.0100	pay 0.0050% / 4h	1h 36m	$506K	$175K	—
Short	ApeX Omni POPCATUSDT	0.05520	0.0100	get 0.0013% / 1h	36m 17s	$22K	$647K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.021%Rate

Funding earned: $0
Price spread: +0.021% → +0.136%: −$11.57
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$21.57
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 48 min ago; ApeX Omni: live order book, 47 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 Variational Omni RFQ quote, 48 min ago	6.36 bp	doesn't fit	106.4 bp −$1,064	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 47 min ago	27.20 bp	53.5 bp −$54	doesn't fit	doesn't fit	doesn't fit

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	−1.375%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0929%	1h	0.05500	−0.346%	$141K	$114K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05508	−0.200%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05505	−0.251%	$100K	$45K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05509	−0.171%	$2.3M	$6.3M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05497	−0.396%	$8.8M	$5.9M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05502	−0.306%	$682K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05504	−0.269%	$432K	$672K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05508	−0.197%	$1.9M	$924K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05515	−0.070%	$1.1M	$997K	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	0.05506	−0.233%	$1.2M	$887K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05502	−0.306%	—	$6.8M	—	as long as short
Variational Omni POPCATlong	+0.0100%	4h	0.05519	long leg	$506K	$175K	—
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05536	+0.310%	$245K	$490K	10x	as long as short
ApeX Omni POPCATUSDTshort	+0.0100%	1h	0.05520	+0.021%	$22K	$647K	25x
Extended POPCAT-USD	+0.0104%	1h	0.05507	−0.213%	$97K	$440K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05528	+0.166%	$123K	$285K	50x	as long as short
Hyperliquid POPCAT	+0.0654%	1h	0.05514	−0.088%	$2.5M	$1.1M	3x	as long as short