Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.098%

Price spread now: Reya against Bitget+0.019%59s7-day average — · you sell dearer than you buy

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

Long on Bitget 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$10 a day on $10k at the current rate. The two prices were read 59 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	Bitget POPCATUSDT	0.05740	0.0100	pay 0.0050% / 4h	1h 28m	$1.2M	$1.0M	50x
Short	Reya POPCATRUSDPERP	0.05741	−0.0228	pay 0.0029% / 1h	28m 21s	$1	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Bitget. 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 BitgetbpFee ReyabpOrdersPrice spread, now +0.019%Rate

Funding earned: −$68.94
Price spread: +0.019% → 0.000%: $1.91
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$85.03
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 3 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 Bitget live order book, 3 min ago	4.34 bp	39.6 bp −$40	150.5 bp −$1,505	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	−0.4288%	1h	0.05642	−1.707%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERPshort	−0.0228%	1h	0.05741	+0.019%	$1	—	10x
Variational Omni POPCAT	+0.0006%	4h	0.05720	−0.340%	$493K	$180K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05741	+0.017%	$102K	$57K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05746	+0.108%	$2.5M	$7.8M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05731	−0.157%	$9.1M	$7.2M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05739	−0.017%	$696K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05740	0.000%	$443K	$573K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05740	0.000%	$1.9M	$1.0M	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05742	+0.035%	$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 POPCATUSDTlong	+0.0100%	4h	0.05740	long leg	$1.2M	$1.0M	50x
BingX POPCAT-USDC	+0.0100%	4h	0.05741	+0.017%	—	$1.6M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05730	−0.174%	$22K	$654K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05742	+0.037%	$95K	$375K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0244%	4h	0.05742	+0.042%	$262K	$524K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05760	+0.348%	$131K	$359K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0392%	1h	0.05738	−0.038%	$152K	$155K	20x	as long as short
Hyperliquid POPCAT	+0.0579%	1h	0.05744	+0.075%	$2.7M	$1.4M	3x	as long as short