Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.3714%/8h= −406.7% APRpaid last 24h −1.335%

Price spread now: Injective against BloFin−1.563%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−4.620%−$462 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 −$111 a day on $10k at the current rate, and Injective is 1.563% cheaper against BloFin than usual: you would sell low and buy high (−$156 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	BloFin POPCAT-USDT	0.05503	0.0340	pay 0.0170% / 4h	1h 45m	$123K	$284K	50x
Short	Injective POPCAT/USDC PERP	0.05417	−0.3374	pay 0.0422% / 1h	45m 13s	$3K	$2K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.563%Rate

Funding earned: −$779.98
Price spread: −1.563% → 0.000%: −$156.28
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$948.28
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 31 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 BloFin live order book, 31 min ago	2.72 bp	29.8 bp −$30	75.5 bp −$755	doesn't fit	doesn't fit
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	−0.3374%	1h	0.05417	−1.563%	$3K	$2K	5.5x
Kraken Futures PF_POPCATUSD	−0.0929%	1h	0.05500	−0.062%	$141K	$114K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05506	+0.055%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05514	+0.200%	$100K	$45K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05515	+0.218%	$2.3M	$6.3M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05508	+0.091%	$8.8M	$5.8M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05512	+0.164%	$678K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05498	−0.091%	$417K	$649K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05514	+0.200%	$1.9M	$920K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05518	+0.273%	$1.1M	$995K	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	0.05511	+0.145%	$1.2M	$885K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05512	+0.164%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05487	−0.282%	$504K	$175K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05502	−0.024%	$244K	$480K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05490	−0.236%	$22K	$645K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05514	+0.204%	$97K	$440K	10x	as long as short
BloFin POPCAT-USDTlong	+0.0340%	4h	0.05503	long leg	$123K	$284K	50x
Hyperliquid POPCAT	+0.0840%	1h	0.05523	+0.371%	$2.6M	$1.1M	3x	as long as short