Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.041%

Price spread now: KuCoin against ApeX Omni−0.227%52s7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$425as 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−$4474.473% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.218%+$22 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.227%, 7d avg +0.021%

Together, before fees+0.200%+$20 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: KuCoin is 0.248% cheaper against ApeX Omni than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of +0.021%. The two prices were read 52 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	ApeX Omni POPCATUSDT	0.05720	0.0100	pay 0.0013% / 1h	44m 42s	$22K	$661K	25x
Short	KuCoin POPCATUSDTM	0.05707	0.0100	get 0.0050% / 4h	1h 44m	$1.1M	$799K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against ApeX 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 ApeX OmnibpFee KuCoinbpOrdersPrice spread, now −0.227%Rate

Funding earned: $0
Price spread: −0.227% → +0.021%: −$24.8
Slippage, 4 orders: −$425.31
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$472.11
Costs to cover: 4.473%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 66 min ago; KuCoin: live order book, 3 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, 66 min ago	17.42 bp	36.5 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	9.60 bp	184.3 bp −$184	856.6 bp −$8,566	doesn't fit	doesn't fit

POPCAT on 18 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
Kraken Futures PF_POPCATUSD	−0.1170%	1h	0.05700	−0.355%	$152K	$121K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05704	−0.282%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0019%	4h	0.05701	−0.340%	$485K	$140K	—	as long as short
Injective POPCAT/USDC PERP	+0.0033%	1h	0.05670	−0.874%	$3K	$2K	5.5x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05705	−0.262%	$97K	$53K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05711	−0.157%	$2.5M	$7.2M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05697	−0.402%	$9.1M	$6.7M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05702	−0.315%	$690K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05704	−0.280%	$428K	$470K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05710	−0.175%	$1.8M	$970K	200x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin POPCATUSDTMshort	+0.0100%	4h	0.05707	−0.227%	$1.1M	$799K	50x
Bitget POPCATUSDT	+0.0100%	4h	0.05708	−0.210%	$1.2M	$793K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05704	−0.280%	—	$6.8M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05723	+0.052%	$261K	$455K	10x	as long as short
ApeX Omni POPCATUSDTlong	+0.0100%	1h	0.05720	long leg	$22K	$661K	25x
Extended POPCAT-USD	+0.0104%	1h	0.05704	−0.282%	$92K	$748K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05714	−0.105%	$131K	$295K	50x	as long as short
Hyperliquid POPCAT	+0.0532%	1h	0.05714	−0.112%	$2.7M	$1.3M	3x	as long as short