Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.050%

Price spread now: BloFin against ApeX Omni+0.335%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$1191.186% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)−0.307%−$31 · spread now +0.335%, 7d avg +0.014%

Together, before fees−0.257%−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.321% dearer against ApeX Omni than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of +0.014%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.050% in total (about 2.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni POPCATUSDT	0.05680	0.0100	pay 0.0013% / 1h	16m 46s	$22K	$654K	25x
Short	BloFin POPCAT-USDT	0.05699	0.0340	get 0.0170% / 4h	3h 16m	$130K	$331K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now +0.335%Rate

Funding earned: $50.4
Price spread: +0.335% → +0.014%: $32.08
Slippage, 4 orders: −$96.64
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$36.16
Costs to cover: 1.186%
Break-even: 12.0 days

Slippage from ApeX Omni: live order book, 36 min ago; BloFin: live order book, 13 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 ApeX Omni live order book, 36 min ago	17.64 bp	36.7 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 13 min ago	2.63 bp	17.8 bp −$18	55.0 bp −$550	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	−0.4864%	1h	0.05611	−1.215%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05694	+0.248%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0146%	4h	0.05672	−0.150%	$509K	$164K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05692	+0.211%	$102K	$56K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05697	+0.299%	$2.5M	$7.2M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05683	+0.053%	$9.0M	$6.7M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05691	+0.194%	$700K	$1.6M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05697	+0.299%	$447K	$636K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05694	+0.246%	$1.8M	$995K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05691	+0.194%	$1.1M	$987K	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	0.05693	+0.229%	$1.2M	$943K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05688	+0.141%	—	$1.6M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05682	+0.038%	$253K	$515K	10x	as long as short
ApeX Omni POPCATUSDTlong	+0.0100%	1h	0.05680	long leg	$22K	$654K	25x
Extended POPCAT-USD	+0.0104%	1h	0.05693	+0.236%	$98K	$365K	10x	as long as short
BloFin POPCAT-USDTshort	+0.0340%	4h	0.05699	+0.335%	$130K	$331K	50x
Kraken Futures PF_POPCATUSD	+0.0505%	1h	0.05695	+0.258%	$152K	$147K	20x	as long as short
Hyperliquid POPCAT	+0.0562%	1h	0.05695	+0.271%	$2.7M	$1.1M	3x	as long as short