Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.257%

Price spread now: ApeX Omni against Hyperliquid+0.191%7-day average −0.139% · you sell dearer than you buy

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

Long on Hyperliquid Short on ApeX Omni

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)+0.076%+$8 · spread now +0.191%, 7d avg −0.139%

Together, before fees−0.336%+ Points / potential airdropHyperliquid: Season 2 · farm board−$34 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: ApeX Omni is 0.330% dearer against Hyperliquid than usual: you sell high and buy low, +$33 on $10k if it goes back to its 7-day average of −0.139%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid POPCAT	0.05659	0.0100	pay 0.0013% / 1h	32m 43s	$2.7M	$1.4M	3x
Short	ApeX Omni POPCATUSDT	0.05670	0.0100	get 0.0013% / 1h	32m 43s	$22K	$654K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Hyperliquid. 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 HyperliquidbpFee ApeX OmnibpOrdersPrice spread, now +0.191%Rate

Funding earned: $0
Price spread: +0.191% → −0.139%: $33.02
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $14.02
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 8 min ago; ApeX Omni: live order book, 65 min ago. 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 Hyperliquid live order book, 8 min ago	2.99 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 65 min ago	17.33 bp	32.6 bp −$33	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	−0.4200%	1h	0.05620	−0.693%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1121%	1h	0.05648	−0.202%	$152K	$151K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05675	+0.272%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05650	−0.163%	$98K	$55K	10x	as long as short
Hyperliquid POPCATlong	+0.0100%	1h	0.05659	long leg	$2.7M	$1.4M	3x
Binance POPCATUSDT	+0.0100%	4h	0.05658	−0.023%	$2.5M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05640	−0.339%	$8.9M	$7.5M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05651	−0.145%	$683K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05651	−0.145%	$406K	$470K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05659	−0.004%	$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	0.05658	−0.021%	$1.1M	$847K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05661	+0.032%	$1.2M	$982K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05652	−0.127%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05667	+0.139%	$480K	$179K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05685	+0.457%	$249K	$477K	10x	as long as short
ApeX Omni POPCATUSDTshort	+0.0100%	1h	0.05670	+0.191%	$22K	$654K	25x
Extended POPCAT-USD	+0.0104%	1h	0.05651	−0.144%	$96K	$750K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05680	+0.368%	$130K	$339K	50x	as long as short