Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.099%

Price spread now: Reya against Binance−0.149%45s7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Reya is 0.149% cheaper against Binance than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 45 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	0.05688	0.0100	pay 0.0050% / 4h	38m 37s	$2.4M	$6.5M	50x
Short	Reya POPCATRUSDPERP	0.05679	−0.0228	pay 0.0029% / 1h	38m 37s	$1	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.149%Rate

Funding earned: −$68.94
Price spread: −0.149% → 0.000%: −$14.92
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$99.86
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 15 min ago; Reya: 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, 15 min ago	2.69 bp	26.7 bp −$27	90.5 bp −$905	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 PERP	−0.4208%	1h	0.05594	−1.645%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0959%	1h	0.05670	−0.311%	$152K	$129K	20x	as long as short
Reya POPCATRUSDPERPshort	−0.0228%	1h	0.05679	−0.149%	$1	—	10x
Lighter POPCAT	+0.0096%	1h	0.05688	+0.008%	$102K	$46K	10x	as long as short
Binance POPCATUSDTlong	+0.0100%	4h	0.05688	long leg	$2.4M	$6.5M	50x
Bybit POPCATUSDT	+0.0100%	4h	0.05672	−0.274%	$9.0M	$6.0M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05656	−0.555%	$714K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05687	−0.010%	$434K	$638K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05669	−0.326%	$1.9M	$931K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05685	−0.045%	$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	0.05656	−0.555%	$1.2M	$895K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05652	−0.625%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05628	−1.051%	$513K	$178K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05670	−0.309%	$23K	$647K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05683	−0.080%	$100K	$440K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0218%	4h	0.05686	−0.036%	$256K	$473K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05682	−0.098%	$125K	$294K	50x	as long as short
Hyperliquid POPCAT	+0.0555%	1h	0.05698	+0.178%	$2.6M	$987K	3x	as long as short