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: OKX against Hyperliquid−0.428%7-day average −0.169% · you buy dearer than you sell

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

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.411%−$41 on $10k

Price spread, last 7 days+0.312%+$31 · spread now −0.428%, 7d avg −0.169%

Together, before fees−0.099%+ Points / potential airdropHyperliquid: Season 2 · farm board−$10 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: OKX is 0.259% cheaper against Hyperliquid than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of −0.169%.

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 36s	$2.7M	$1.4M	3x
Short	OKX POPCAT-USDT-SWAP	0.05635	0.0100	get 0.0050% / 4h	3h 32m	$683K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.428%Rate

Funding earned: $0
Price spread: −0.428% → −0.169%: −$25.86
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$44.86
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 8 min ago; OKX: 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, 8 min ago	2.99 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	7.93 bp	43.4 bp −$43	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	0.05640	−0.334%	$2.5M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05623	−0.640%	$8.9M	$7.5M	50x	as long as short
OKX POPCAT-USDT-SWAPshort	+0.0100%	4h	0.05635	−0.428%	$683K	$1.7M	20x
Gate POPCAT_USDT	+0.0100%	4h	0.05651	−0.145%	$406K	$470K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05656	−0.057%	$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	0.05655	−0.074%	$1.2M	$978K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05652	−0.127%	—	$1.6M	—	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 POPCATUSDT	+0.0100%	1h	0.05670	+0.191%	$22K	$654K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05650	−0.171%	$96K	$750K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05680	+0.368%	$130K	$339K	50x	as long as short