Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Bybit+0.261%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$184as in the Funding arb table

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$1851.853% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.257%−$26 · spread now +0.261%, 7d avg +0.081%

Together, before fees−0.248%+ Points / potential airdropExtended: Active · farm board−$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.180% dearer against Bybit than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit POPCATUSDT	0.05624	0.0100	pay 0.0050% / 4h	1h 29m	$8.8M	$6.3M	50x
Short	Extended POPCAT-USD	0.05639	0.0104	get 0.0013% / 1h	29m 08s	$96K	$529K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now +0.261%Rate

Funding earned: $0.84
Price spread: +0.261% → +0.081%: $17.99
Slippage, 4 orders: −$169.29
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$166.46
Costs to cover: 1.853%
Break-even: 1394.1 days

Slippage from Bybit: live order book, 4 min ago; Extended: live order book, 34 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 Bybit live order book, 4 min ago	3.55 bp	24.5 bp −$24	80.2 bp −$802	doesn't fit	doesn't fit
Sell Extended live order book, 34 min ago	2.68 bp	71.5 bp −$71	402.1 bp −$4,021	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	−0.4257%	1h	0.05560	−1.138%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05642	+0.320%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0120%	4h	0.05631	+0.122%	$510K	$162K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05640	+0.284%	$101K	$51K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05641	+0.307%	$2.4M	$6.9M	50x	as long as short
Bybit POPCATUSDTlong	+0.0100%	4h	0.05624	long leg	$8.8M	$6.3M	50x
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05630	+0.107%	$695K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05650	+0.462%	$447K	$637K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05641	+0.302%	$1.8M	$957K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05642	+0.320%	$1.1M	$986K	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	0.05639	+0.267%	$1.2M	$938K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05632	+0.142%	—	$1.6M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05650	+0.462%	$22K	$651K	25x	as long as short
Extended POPCAT-USDshort	+0.0104%	1h	0.05639	+0.261%	$96K	$529K	10x
GRVT POPCAT_USDT_Perp	+0.0142%	4h	0.05649	+0.445%	$252K	$495K	10x	as long as short
Kraken Futures PF_POPCATUSD	+0.0293%	1h	0.05640	+0.283%	$151K	$146K	20x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05642	+0.320%	$124K	$326K	50x	as long as short
Hyperliquid POPCAT	+0.0819%	1h	0.05647	+0.405%	$2.6M	$997K	3x	as long as short