Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h −0.026%

Price spread now: Extended against BloFin+0.001%7-day average −0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1581.582% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 3 days (all we have)+0.291%+$29 · spread now +0.001%, 7d avg −0.070%

Together, before fees+0.274%+ Points / potential airdropExtended: Active · farm board+$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.071% dearer against BloFin than usual: you sell high and buy low (spread +0.001% now, against its 7-day average of −0.070%): +$7 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 7 days (−0.018% in total) that is about 28 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.018% in total (about -0.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin POPCAT-USDT	0.05564	0.0340	pay 0.0170% / 4h	3h 30m	$128K	$278K	50x
Short	Extended POPCAT-USD	0.05564	0.0104	get 0.0013% / 1h	30m 33s	$98K	$440K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$49.56
Price spread: +0.001% → −0.070%: $7.12
Slippage, 4 orders: −$141.2
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$200.64
Costs to cover: 1.582%
Break-even: never at this rate

Slippage from BloFin: live order book, 14 min ago; Extended: live order book, 17 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 BloFin live order book, 14 min ago	2.72 bp	22.8 bp −$23	51.5 bp −$515	doesn't fit	doesn't fit
Sell Extended live order book, 17 min ago	2.73 bp	61.0 bp −$61	365.7 bp −$3,657	doesn't fit	doesn't fit

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	−0.4497%	1h	0.05476	−1.582%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05554	−0.171%	$1	—	10x	as long as short
Kraken Futures PF_POPCATUSD	+0.0046%	1h	0.05556	−0.139%	$142K	$117K	20x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05564	0.000%	$101K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05565	+0.013%	$2.4M	$6.2M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05556	−0.144%	$8.9M	$5.8M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05565	+0.018%	$684K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05561	−0.054%	$423K	$673K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05566	+0.036%	$2.0M	$906K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05559	−0.090%	$1.1M	$994K	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	0.05557	−0.126%	$1.2M	$869K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05560	−0.072%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05557	−0.118%	$508K	$173K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05550	−0.252%	$23K	$637K	25x	as long as short
Extended POPCAT-USDshort	+0.0104%	1h	0.05564	+0.001%	$98K	$440K	10x
BloFin POPCAT-USDTlong	+0.0340%	4h	0.05564	long leg	$128K	$278K	50x
GRVT POPCAT_USDT_Perp	+0.0640%	4h	0.05568	+0.068%	$249K	$498K	10x	as long as short
Hyperliquid POPCAT	+0.1029%	1h	0.05566	+0.043%	$2.6M	$1.0M	3x	as long as short