Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0494%/8h= −54.1% APRpaid last 24h −0.053%

Price spread now: Kraken Futures against Gate+0.009%7-day average −0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$362as in the Funding arb table

Net, price: spread back to 7d avg − costs−$300as in the Price arb table

costs, in and out, $10k−$3093.092% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.527%−$53 on $10k

Price spread, last 3 days (all we have)−0.824%−$82 · spread now +0.009%, 7d avg −0.088%

Together, before fees−1.351%−$135 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.096% dearer against Gate than usual: you sell high and buy low (spread +0.009% now, against its 7-day average of −0.088%): +$10 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate POPCAT_USDT	0.05641	0.0100	pay 0.0050% / 4h	3h 01m	$454K	$649K	50x
Short	Kraken Futures PF_POPCATUSD	0.05641	−0.0394	pay 0.0049% / 1h	1m 49s	$150K	$144K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$103.72
Price spread: +0.009% → −0.088%: $9.63
Slippage, 4 orders: −$284.2
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$403.28
Costs to cover: 3.092%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Kraken Futures: 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 Gate live order book, 5 min ago	4.41 bp	83.1 bp −$83	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	14.08 bp	44.0 bp −$44	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	−0.4945%	1h	0.05301	−6.027%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSDshort	−0.0394%	1h	0.05641	+0.009%	$150K	$144K	20x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05635	−0.100%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05635	−0.106%	$101K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05636	−0.089%	$2.3M	$6.7M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05619	−0.390%	$8.9M	$6.2M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05630	−0.195%	$697K	$1.5M	20x	as long as short
Gate POPCAT_USDTlong	+0.0100%	4h	0.05641	long leg	$454K	$649K	50x
MEXC POPCAT_USDT	+0.0100%	4h	0.05635	−0.106%	$1.9M	$960K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05639	−0.035%	$1.1M	$988K	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	0.05624	−0.301%	$1.2M	$942K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05624	−0.301%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05655	+0.247%	$513K	$163K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05660	+0.337%	$22K	$652K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05632	−0.156%	$96K	$525K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0112%	4h	0.05674	+0.586%	$246K	$481K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05685	+0.780%	$125K	$298K	50x	as long as short
Hyperliquid POPCAT	+0.1534%	1h	0.05642	+0.012%	$2.6M	$973K	3x	as long as short