Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0539%/8h= +59.0% APRpaid last 24h −0.068%

Price spread now: Kraken Futures against Bitget+0.097%7-day average −0.140% · you sell dearer than you buy

Net, funding: paid 7d − costs−$236as in the Funding arb table

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1821.825% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.538%−$54 on $10k

Price spread, last 3 days (all we have)−0.816%−$82 · spread now +0.097%, 7d avg −0.140%

Together, before fees−1.354%−$135 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 0.237% dearer against Bitget than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of −0.140%. Mind the row above: over the last 7 days funding on this pair cost −0.538%, 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	Bitget POPCATUSDT	0.05570	0.0100	pay 0.0050% / 4h	2h 19m	$1.2M	$939K	50x
Short	Kraken Futures PF_POPCATUSD	0.05575	0.0639	get 0.0080% / 1h	19m 17s	$149K	$149K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.097%Rate

Funding earned: $113.2
Price spread: +0.097% → −0.140%: $23.69
Slippage, 4 orders: −$160.5
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$45.61
Costs to cover: 1.825%
Break-even: 9.8 days

Slippage from Bitget: live order book, 2 min ago; Kraken Futures: live order book, 48 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 Bitget live order book, 2 min ago	6.27 bp	39.5 bp −$40	138.4 bp −$1,384	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 48 min ago	14.08 bp	44.0 bp −$44	doesn't fit	doesn't fit	doesn't fit

POPCAT on 17 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	0.05524	−0.826%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05572	+0.036%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0045%	4h	0.05572	+0.044%	$506K	$162K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05572	+0.036%	$100K	$52K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05578	+0.144%	$2.3M	$6.8M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05561	−0.162%	$8.8M	$6.3M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05573	+0.054%	$688K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05570	0.000%	$444K	$637K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05578	+0.144%	$1.8M	$970K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05572	+0.036%	$1.1M	$990K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDTlong	+0.0100%	4h	0.05570	long leg	$1.2M	$939K	50x
BingX POPCAT-USDT	+0.0100%	4h	0.05570	0.000%	—	$6.8M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05602	+0.575%	$251K	$486K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05590	+0.359%	$22K	$658K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05568	−0.031%	$98K	$524K	10x	as long as short
Kraken Futures PF_POPCATUSDshort	+0.0639%	1h	0.05575	+0.097%	$149K	$149K	20x
Hyperliquid POPCAT	+0.1047%	1h	0.05584	+0.257%	$2.6M	$999K	3x	as long as short