POPCAT

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1067%/8h= −116.8% APRnext payment −$1.33 per $10,000 · paid last 24h −0.031%

Price spread now: Kraken Futures against ApeX Omni−1.199%75s7-day average −0.171% · you buy dearer than you sell

Net, funding: paid 7d − costs−$248as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1971.970% of the position

Long on ApeX Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.511%−$51 on $10k

Price spread, last 3 days (all we have)+0.265%+$27 · spread now −1.199%, 7d avg −0.171%

Together, before fees−0.246%−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and Kraken Futures is 1.028% cheaper against ApeX Omni than usual: you would sell low and buy high (−$103 if the spread goes back to its 7-day average of −0.171%). Swap the legs. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.511% in total (about -26.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.33 per $10,000. 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	0.05690	0.0100	pay 0.0013% / 1h	35m 39s	$23K	$647K	25x
Short	Kraken Futures PF_POPCATUSD	0.05622	−0.0967	pay 0.0121% / 1h	35m 39s	$150K	$131K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −1.199%Rate

Funding earned: −$224.07
Price spread: −1.199% → −0.171%: −$102.82
Slippage, 4 orders: −$177.03
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$523.92
Costs to cover: 1.970%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 42 min ago; Kraken Futures: live order book, 42 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, 42 min ago	18.18 bp	38.6 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 42 min ago	24.60 bp	74.0 bp −$74	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	−0.4208%	1h	0.05594	−1.687%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSDshort	−0.0967%	1h	0.05622	−1.199%	$150K	$131K	20x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05630	−1.058%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05620	−1.230%	$101K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05623	−1.175%	$2.4M	$6.5M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05608	−1.441%	$8.9M	$6.0M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05622	−1.195%	$702K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05620	−1.230%	$429K	$638K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05619	−1.248%	$1.9M	$934K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05630	−1.054%	$1.1M	$984K	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	0.05611	−1.388%	$1.2M	$896K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05607	−1.459%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05618	−1.259%	$512K	$178K	—	as long as short
ApeX Omni POPCATUSDTlong	+0.0100%	1h	0.05690	long leg	$23K	$647K	25x
Extended POPCAT-USD	+0.0104%	1h	0.05615	−1.312%	$99K	$440K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0218%	4h	0.05686	−0.079%	$256K	$473K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05650	−0.703%	$124K	$292K	50x	as long as short
Hyperliquid POPCAT	+0.0571%	1h	0.05634	−0.988%	$2.6M	$989K	3x	as long as short