Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.4300%/8h= −470.9% APRpaid last 24h −1.347%

Price spread now: Injective against Gate−0.707%99s7-day average — · you buy dearer than you sell

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−5.106%−$511 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 −$129 a day on $10k at the current rate, and Injective is 0.707% cheaper against Gate than usual: you would sell low and buy high (−$71 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate POPCAT_USDT	0.05660	0.0100	pay 0.0050% / 4h	3h 33m	$406K	$470K	50x
Short	Injective POPCAT/USDC PERP	0.05620	−0.4200	pay 0.0525% / 1h	33m 25s	$3K	$2K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now −0.707%Rate

Funding earned: −$903
Price spread: −0.707% → 0.000%: −$70.67
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$988.7
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 63 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 Gate live order book, 63 min ago	6.94 bp	48.8 bp −$49	doesn't fit	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	−0.4200%	1h	0.05620	−0.707%	$3K	$2K	5.5x
Kraken Futures PF_POPCATUSD	−0.1116%	1h	0.05673	+0.232%	$152K	$151K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05675	+0.258%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05652	−0.141%	$98K	$55K	10x	as long as short
Hyperliquid POPCAT	+0.0100%	1h	0.05654	−0.106%	$2.7M	$1.4M	3x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05657	−0.052%	$2.5M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05638	−0.389%	$8.9M	$7.5M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05648	−0.212%	$683K	$1.7M	20x	as long as short
Gate POPCAT_USDTlong	+0.0100%	4h	0.05660	long leg	$406K	$470K	50x
MEXC POPCAT_USDT	+0.0100%	4h	0.05653	−0.124%	$1.9M	$1.1M	200x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin POPCATUSDTM	+0.0100%	4h	0.05660	0.000%	$1.1M	$847K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05646	−0.247%	$1.2M	$982K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05646	−0.247%	—	$1.6M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05667	+0.125%	$480K	$179K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05685	+0.443%	$249K	$477K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05670	+0.177%	$22K	$654K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05649	−0.194%	$96K	$750K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05680	+0.353%	$130K	$339K	50x	as long as short