Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.091%

Price spread now: Lighter against Gate−0.017%7-day average +0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$1841.839% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.420%+$42 on $10k

Price spread, last 4 days (all we have)+0.244%+$24 · spread now −0.017%, 7d avg +0.105%

Together, before fees+0.664%+ Points / potential airdropLighter: Season 3 · farm board+$66 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 0.123% cheaper against Gate than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate POPCAT_USDT	0.05730	0.0100	pay 0.0050% / 4h	1h 47m	$445K	$570K	50x
Short	Lighter POPCAT	0.05729	0.0096	get 0.0012% / 1h	47m 05s	$102K	$57K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$0.84
Price spread: −0.017% → +0.105%: −$12.27
Slippage, 4 orders: −$168.89
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$197
Costs to cover: 1.839%
Break-even: never at this rate

Slippage from Gate: live order book, 59 min ago; Lighter: live order book, 23 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, 59 min ago	6.24 bp	41.3 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 23 min ago	18.39 bp	18.4 bp −$18	518.6 bp −$5,186	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	−1.536%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05730	−0.003%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0021%	4h	0.05716	−0.252%	$485K	$176K	—	as long as short
Lighter POPCATshort	+0.0096%	1h	0.05729	−0.017%	$102K	$57K	10x
Binance POPCATUSDT	+0.0100%	4h	0.05730	+0.008%	$2.5M	$7.7M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05720	−0.175%	$9.0M	$7.1M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05729	−0.017%	$693K	$1.7M	20x	as long as short
Gate POPCAT_USDTlong	+0.0100%	4h	0.05730	long leg	$445K	$570K	50x
MEXC POPCAT_USDT	+0.0100%	4h	0.05730	0.000%	$1.8M	$1.0M	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05732	+0.035%	$1.1M	$1.0M	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	0.05732	+0.035%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05728	−0.035%	—	$6.8M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05730	0.000%	$22K	$657K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05729	−0.010%	$95K	$379K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0250%	4h	0.05737	+0.115%	$249K	$511K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05730	0.000%	$131K	$357K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0393%	1h	0.05727	−0.048%	$152K	$155K	20x	as long as short
Hyperliquid POPCAT	+0.0442%	1h	0.05737	+0.119%	$2.7M	$1.4M	3x	as long as short