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% APRpaid last 24h −0.257%

Price spread now: BingX against Hyperliquid−0.049%7-day average −0.180% · you buy dearer than you sell

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

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.410%−$41 on $10k

Price spread, last 7 days−0.052%−$5 · spread now −0.049%, 7d avg −0.180%

Together, before fees−0.462%+ Points / potential airdropHyperliquid: Season 2 · farm board−$46 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: BingX is 0.131% dearer against Hyperliquid than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.180%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid POPCAT	0.05718	0.0100	pay 0.0013% / 1h	48m 35s	$2.7M	$1.4M	3x
Short	BingX POPCAT-USDT	0.05715	0.0100	get 0.0050% / 4h	3h 48m	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.049%Rate

Funding earned: $0
Price spread: −0.049% → −0.180%: $13.13
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$5.87
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 min ago; BingX: live order book, 4 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, 3 min ago	1.57 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	5.25 bp	28.1 bp −$28	64.9 bp −$649	536.7 bp −$53.7K	864.2 bp −$432.1K

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	0.05655	−1.098%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1111%	1h	0.05699	−0.329%	$153K	$155K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05718	+0.005%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05711	−0.119%	$99K	$55K	10x	as long as short
Hyperliquid POPCATlong	+0.0100%	1h	0.05718	long leg	$2.7M	$1.4M	3x
Binance POPCATUSDT	+0.0100%	4h	0.05718	−0.005%	$2.5M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05709	−0.154%	$9.1M	$7.6M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05718	+0.003%	$693K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05716	−0.031%	$436K	$448K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05713	−0.084%	$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	0.05717	−0.014%	$1.1M	$858K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05715	−0.049%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDTshort	+0.0100%	4h	0.05715	−0.049%	—	$6.8M	—
Variational Omni POPCAT	+0.0100%	4h	0.05717	−0.013%	$482K	$179K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05715	−0.042%	$258K	$480K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05710	−0.136%	$22K	$655K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05715	−0.048%	$92K	$745K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05722	+0.073%	$132K	$341K	50x	as long as short