Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.098%

Price spread now: Reya against BingX−0.047%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 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 0.047% cheaper against BingX than usual: you would sell low and buy high (−$5 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-USDT	0.05706	0.0100	pay 0.0050% / 4h	2h 05m	—	$6.8M	—
Short	Reya POPCATRUSDPERP	0.05703	−0.0228	pay 0.0029% / 1h	5m 01s	$1	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against BingX. 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 BingXbpFee ReyabpOrdersPrice spread, now −0.047%Rate

Funding earned: −$68.94
Price spread: −0.047% → 0.000%: −$4.69
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$89.63
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 2 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 BingX live order book, 2 min ago	6.14 bp	31.0 bp −$31	74.5 bp −$745	555.4 bp −$55.5K	814.9 bp −$407.4K
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	−0.4088%	1h	0.05595	−1.945%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERPshort	−0.0228%	1h	0.05703	−0.047%	$1	—	10x
Variational Omni POPCAT	−0.0044%	4h	0.05696	−0.184%	$485K	$175K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05704	−0.035%	$101K	$57K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05701	−0.088%	$2.5M	$7.6M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05688	−0.315%	$8.9M	$6.9M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05692	−0.245%	$691K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05700	−0.105%	$444K	$651K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05703	−0.053%	$1.8M	$1.0M	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05703	−0.053%	$1.1M	$1.0M	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	0.05703	−0.053%	$1.2M	$982K	50x	as long as short
BingX POPCAT-USDTlong	+0.0100%	4h	0.05706	long leg	—	$6.8M	—
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05720	+0.245%	$22K	$656K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05703	−0.055%	$94K	$391K	10x	as long as short
Hyperliquid POPCAT	+0.0277%	1h	0.05707	+0.018%	$2.7M	$1.4M	3x	as long as short
GRVT POPCAT_USDT_Perp	+0.0288%	4h	0.05710	+0.070%	$258K	$500K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05712	+0.105%	$127K	$345K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0405%	1h	0.05703	−0.053%	$151K	$155K	20x	as long as short