Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.4964%/8h= −543.6% APRpaid last 24h −1.318%

Price spread now: Injective against BingX−0.828%7-day average — · you buy dearer than you sell

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

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−4.876%−$488 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 −$149 a day on $10k at the current rate, and Injective is 0.828% cheaper against BingX than usual: you would sell low and buy high (−$83 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX POPCAT-USDC	0.05679	0.0100	pay 0.0050% / 4h	3h 23m	—	$1.6M	—
Short	Injective POPCAT/USDC PERP	0.05632	−0.4864	pay 0.0608% / 1h	23m 07s	$3K	$2K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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 BingXbpFee InjectivebpOrdersPrice spread, now −0.828%Rate

Funding earned: −$1,042.43
Price spread: −0.828% → 0.000%: −$82.76
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,135.21
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 9 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 BingX live order book, 9 min ago	14.06 bp	77.0 bp −$77	309.0 bp −$3,090	453.0 bp −$45.3K	890.4 bp −$445.2K
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	−0.4864%	1h	0.05632	−0.828%	$3K	$2K	5.5x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05675	−0.062%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0123%	4h	0.05665	−0.239%	$510K	$164K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05677	−0.035%	$102K	$56K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05679	0.000%	$2.5M	$7.2M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05667	−0.211%	$8.9M	$6.6M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05674	−0.088%	$698K	$1.6M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05680	+0.018%	$447K	$635K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05679	0.000%	$1.8M	$994K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05679	0.000%	$1.1M	$985K	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	0.05685	+0.106%	$1.2M	$942K	50x	as long as short
BingX POPCAT-USDClong	+0.0100%	4h	0.05679	long leg	—	$1.6M	—
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05694	+0.264%	$253K	$515K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05690	+0.194%	$22K	$655K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05675	−0.068%	$98K	$499K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05679	0.000%	$130K	$330K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0507%	1h	0.05673	−0.102%	$151K	$147K	20x	as long as short
Hyperliquid POPCAT	+0.0577%	1h	0.05682	+0.049%	$2.7M	$1.1M	3x	as long as short