Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.4357%/8h= −477.1% APRpaid last 24h −1.320%

Price spread now: Injective against Binance−0.393%107s7-day average — · you buy dearer than you sell

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−4.770%−$477 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$131 a day on $10k at the current rate, and Injective is 0.393% cheaper against Binance than usual: you would sell low and buy high (−$39 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 107 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	Binance POPCATUSDT	0.05609	0.0100	pay 0.0050% / 4h	1h 05m	$2.4M	$6.9M	50x
Short	Injective POPCAT/USDC PERP	0.05587	−0.4257	pay 0.0532% / 1h	5m 29s	$3K	$2K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now −0.393%Rate

Funding earned: −$914.98
Price spread: −0.393% → 0.000%: −$39.26
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$964.26
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 3 min ago; Injective: no order-book sample. 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 Binance live order book, 3 min ago	3.55 bp	29.9 bp −$30	82.6 bp −$826	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PERPshort	−0.4257%	1h	0.05587	−0.393%	$3K	$2K	5.5x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05601	−0.143%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0167%	4h	0.05593	−0.278%	$506K	$163K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05597	−0.214%	$100K	$51K	10x	as long as short
Binance POPCATUSDTlong	+0.0100%	4h	0.05609	long leg	$2.4M	$6.9M	50x
Bybit POPCATUSDT	+0.0100%	4h	0.05592	−0.303%	$8.8M	$6.4M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05600	−0.161%	$692K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05597	−0.214%	$440K	$639K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05602	−0.125%	$1.8M	$961K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05602	−0.125%	$1.1M	$983K	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	0.05597	−0.214%	$1.2M	$936K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05591	−0.321%	—	$1.6M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05640	+0.552%	$22K	$650K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05593	−0.289%	$95K	$530K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0130%	4h	0.05648	+0.694%	$250K	$493K	10x	as long as short
Kraken Futures PF_POPCATUSD	+0.0295%	1h	0.05612	+0.046%	$150K	$146K	20x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05635	+0.463%	$125K	$326K	50x	as long as short
Hyperliquid POPCAT	+0.0876%	1h	0.05605	−0.070%	$2.6M	$997K	3x	as long as short