Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0536%/8h= +58.7% APRpaid last 24h −0.069%

Price spread now: Kraken Futures against Binance−0.044%7-day average −0.176% · you buy dearer than you sell

Net, funding: paid 7d − costs−$211as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1571.573% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.539%−$54 on $10k

Price spread, last 3 days (all we have)−0.699%−$70 · spread now −0.044%, 7d avg −0.176%

Together, before fees−1.238%−$124 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Kraken Futures is 0.132% dearer against Binance than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.176%. Mind the row above: over the last 7 days funding on this pair cost −0.539%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance POPCATUSDT	0.05601	0.0100	pay 0.0050% / 4h	2h 39m	$2.3M	$6.8M	50x
Short	Kraken Futures PF_POPCATUSD	0.05599	0.0636	get 0.0080% / 1h	39m 06s	$149K	$146K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.044%Rate

Funding earned: $112.64
Price spread: −0.044% → −0.176%: $13.23
Slippage, 4 orders: −$137.31
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$31.44
Costs to cover: 1.573%
Break-even: 9.0 days

Slippage from Binance: live order book, 15 min ago; Kraken Futures: live order book, 28 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 Binance live order book, 15 min ago	1.78 bp	23.4 bp −$23	84.3 bp −$843	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 28 min ago	14.08 bp	44.0 bp −$44	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	−0.5000%	1h	0.05540	−1.089%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05598	−0.055%	$1	—	10x	as long as short
Variational Omni POPCAT	+0.0073%	4h	0.05592	−0.158%	$507K	$162K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05598	−0.054%	$101K	$52K	10x	as long as short
Binance POPCATUSDTlong	+0.0100%	4h	0.05601	long leg	$2.3M	$6.8M	50x
Bybit POPCATUSDT	+0.0100%	4h	0.05590	−0.196%	$8.8M	$6.3M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05597	−0.071%	$691K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05590	−0.196%	$446K	$633K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05597	−0.071%	$1.8M	$966K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05594	−0.125%	$1.1M	$991K	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	0.05599	−0.036%	$1.2M	$940K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05593	−0.143%	—	$1.6M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05609	+0.143%	$245K	$485K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05630	+0.518%	$22K	$657K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05597	−0.063%	$95K	$520K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05654	+0.946%	$125K	$301K	50x	as long as short
Kraken Futures PF_POPCATUSDshort	+0.0636%	1h	0.05599	−0.044%	$149K	$146K	20x
Hyperliquid POPCAT	+0.1211%	1h	0.05606	+0.080%	$2.6M	$990K	3x	as long as short