Funding you earn now, next payment 08:00 UTC−0.0240%/8h= −26.3% APRnext payment −$1.20 per $10,000 · paid last 24h −0.050%
Price spread now: OKX against BloFin−0.209%93s7-day average −0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$148as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1431.427% of the position
Funding, last 7 days−0.050%−$5 on $10k
+Price spread, last 4 days (all we have)+0.254%+$25 · spread now −0.209%, 7d avg −0.051%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and OKX is 0.158% cheaper against BloFin than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.051%). Swap the legs. The two prices were read 93 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.050% in total (about -2.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.20 per $10,000. 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 | 0.05731 | 0.0340 | pay 0.0170% / 4h | 1h 51m | $131K | $357K | 50x |
| Short | OKX POPCAT-USDT-SWAP | 0.05719 | 0.0100 | get 0.0050% / 4h | 1h 51m | $693K | $1.7M | 20x |
BloFin POPCAT-USDT
OKX POPCAT-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against BloFin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$50.4
- Price spread: −0.209% → −0.051%
- −$15.8
- Slippage, 4 orders
- −$120.67
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$208.87
- Costs to cover
- 1.427%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 33 min ago; OKX: live order book, 5 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, 33 min ago | 8.14 bp | 25.6 bp −$26 | 65.9 bp −$659 | doesn't fit | doesn't fit |
| Sell OKX live order book, 5 min ago | 5.23 bp | 42.2 bp −$42 | doesn't fit | 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 | −0.4288% | 1h | 0.05642 | −1.553% | $3K | $2K | 5.5x | as long as short |
| Reya POPCATRUSDPERP | −0.0228% | 1h | 0.05723 | −0.134% | $1 | — | 10x | as long as short |
| Variational Omni POPCAT | −0.0050% | 4h | 0.05727 | −0.061% | $484K | $176K | — | as long as short |
| Lighter POPCAT | +0.0096% | 1h | 0.05724 | −0.122% | $102K | $57K | 10x | as long as short |
| Binance POPCATUSDT | +0.0100% | 4h | 0.05729 | −0.037% | $2.5M | $7.7M | 50x | as long as short |
| Bybit POPCATUSDT | +0.0100% | 4h | 0.05712 | −0.332% | $9.0M | $7.1M | 50x | as long as short |
| OKX POPCAT-USDT-SWAPshort | +0.0100% | 4h | 0.05719 | −0.209% | $693K | $1.7M | 20x | |
| Gate POPCAT_USDT | +0.0100% | 4h | 0.05723 | −0.140% | $445K | $570K | 50x | as long as short |
| MEXC POPCAT_USDT | +0.0100% | 4h | 0.05728 | −0.052% | $1.8M | $1.0M | 200x | as long as short |
| KuCoin POPCATUSDTM | +0.0100% | 4h | 0.05730 | −0.017% | $1.1M | $1.0M | 50x | as long as short |
Injective POPCAT/USDC PERP
Reya POPCATRUSDPERP
Variational Omni POPCAT
Lighter POPCAT
Binance POPCATUSDT
Bybit POPCATUSDT
Gate POPCAT_USDT
MEXC POPCAT_USDT
KuCoin POPCATUSDTMShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget POPCATUSDT | +0.0100% | 4h | 0.05729 | −0.035% | $1.2M | $1.0M | 50x | as long as short |
| BingX POPCAT-USDT | +0.0100% | 4h | 0.05719 | −0.209% | — | $6.8M | — | as long as short |
| ApeX Omni POPCATUSDT | +0.0100% | 1h | 0.05740 | +0.157% | $22K | $655K | 25x | as long as short |
| Extended POPCAT-USD | +0.0104% | 1h | 0.05725 | −0.101% | $95K | $379K | 10x | as long as short |
| GRVT POPCAT_USDT_Perp | +0.0286% | 4h | 0.05744 | +0.226% | $250K | $511K | 10x | as long as short |
| BloFin POPCAT-USDTlong | +0.0340% | 4h | 0.05731 | long leg | $131K | $357K | 50x | |
| Kraken Futures PF_POPCATUSD | +0.0393% | 1h | 0.05728 | −0.053% | $152K | $155K | 20x | as long as short |
| Hyperliquid POPCAT | +0.0400% | 1h | 0.05732 | +0.017% | $2.7M | $1.4M | 3x | as long as short |
Bitget POPCATUSDT
BingX POPCAT-USDT
ApeX Omni POPCATUSDT
Extended POPCAT-USD
GRVT POPCAT_USDT_Perp
Kraken Futures PF_POPCATUSD
Hyperliquid POPCAT