POPCAT

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h +0.144%

Price spread now: Lighter against Extended−0.066%7-day average +0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$163as in the Price arb table

costs, in and out, $10k−$1471.471% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.411%+$41 on $10k

Price spread, last 4 days (all we have)+0.283%+$28 · spread now −0.066%, 7d avg +0.092%

Together, before fees+0.694%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board+$69 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: Lighter is 0.158% cheaper against Extended than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended POPCAT-USD	0.05641	0.0104	pay 0.0013% / 1h	44m 33s	$99K	$440K	10x
Short	Lighter POPCAT	0.05637	0.0096	get 0.0012% / 1h	44m 33s	$101K	$46K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Extended. 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 ExtendedbpFee LighterbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$1.68
Price spread: −0.066% → +0.092%: −$15.78
Slippage, 4 orders: −$142.05
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$164.51
Costs to cover: 1.471%
Break-even: never at this rate

Slippage from Extended: live order book, 33 min ago; Lighter: live order book, 6 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 Extended live order book, 33 min ago	2.73 bp	50.1 bp −$50	318.4 bp −$3,184	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	18.72 bp	18.7 bp −$19	506.6 bp −$5,066	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	−0.4208%	1h	0.05558	−1.467%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0967%	1h	0.05623	−0.322%	$149K	$120K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05640	−0.008%	$1	—	10x	as long as short
Lighter POPCATshort	+0.0096%	1h	0.05637	−0.066%	$101K	$46K	10x
Binance POPCATUSDT	+0.0100%	4h	0.05643	+0.031%	$2.4M	$6.4M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05636	−0.084%	$9.0M	$5.9M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05648	+0.129%	$706K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05640	−0.013%	$431K	$636K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05640	−0.013%	$1.9M	$926K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05634	−0.119%	$1.1M	$980K	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	0.05633	−0.137%	$1.2M	$886K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05630	−0.190%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05623	−0.318%	$513K	$178K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05620	−0.368%	$23K	$647K	25x	as long as short
Extended POPCAT-USDlong	+0.0104%	1h	0.05641	long leg	$99K	$440K	10x
GRVT POPCAT_USDT_Perp	+0.0232%	4h	0.05643	+0.041%	$254K	$482K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05631	−0.173%	$123K	$290K	50x	as long as short
Hyperliquid POPCAT	+0.0574%	1h	0.05651	+0.184%	$2.6M	$1.0M	3x	as long as short