Funding arb · Price arb /

POPMART

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.067%

Price spread now: OKX against KuCoin+0.051%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$814as in the Funding arb table

Net, price: spread back to 7d avg − costs−$812as in the Price arb table

costs, in and out, $10k−$8198.185% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$5 on $10k

Price spread, last 4 days (all we have)−0.118%−$12 · spread now +0.051%, 7d avg −0.015%

Together, before fees−0.072%−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.065% dearer against KuCoin than usual: you sell high and buy low (spread +0.051% now, against its 7-day average of −0.015%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin POPMARTUSDTM	19.740	0.0100	pay 0.0050% / 4h	1h 45m	$29K	$181K	20x
Short	OKX POPMART-USDT-SWAP	19.750	0	get 0.0000% / 8h	5h 45m	$273K	$92K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against KuCoin. 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 KuCoinbpFee OKXbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$21
Price spread: +0.051% → −0.015%: $6.53
Slippage, 4 orders: −$796.51
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$832.98
Costs to cover: 8.185%
Break-even: never at this rate

Slippage from KuCoin: live order book, 56 min ago; OKX: live order book, 63 min ago.

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 KuCoin live order book, 56 min ago	15.20 bp	370.4 bp −$370	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 63 min ago	5.08 bp	46.0 bp −$46	doesn't fit	doesn't fit	doesn't fit

POPMART on 10 exchanges

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
edgeX POPMARTUSDC	−0.0309%	4h	19.740	0.000%	$200K	$235K	10x	as long as short
Aster POPMARTUSDT	0.0000%	8h	19.730	−0.053%	$16K	$4K	20x	as long as short
Binance POPMARTUSDT	0.0000%	4h	19.745	+0.028%	$1.4M	$391K	25x	as long as short
Bybit POPMARTUSDT	0.0000%	8h	19.730	−0.051%	$57K	$2K	25x	as long as short
OKX POPMART-USDT-SWAPshort	0.0000%	8h	19.750	+0.051%	$273K	$92K	20x
Gate POPMART_USDT	0.0000%	8h	19.771	+0.157%	$293K	$9K	20x	as long as short
Bitget POPMARTUSDT	0.0000%	8h	19.731	−0.046%	$478K	$82K	20x	as long as short
HTX POPMART-USDT	0.0000%	4h	19.710	−0.152%	$7K	$4K	10x	as long as short
Lighter POPMART	+0.0032%	1h	19.635	−0.532%	—	—	10x	as long as short
KuCoin POPMARTUSDTMlong	+0.0100%	4h	19.740	long leg	$29K	$181K	20x