Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.4628%/8h= +506.8% APRpaid last 24h +1.392%

Price spread now: BloFin against Injective+2.269%7-day average — · you sell dearer than you buy

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

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+5.039%+$504 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$139 a day on $10k at the current rate, and BloFin is 2.269% dearer against Injective than usual: you sell high and buy low: +$227 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective POPCAT/USDC PERP	0.05642	−0.4288	get 0.0536% / 1h	23m 36s	$3K	$2K	5.5x
Short	BloFin POPCAT-USDT	0.05770	0.0340	get 0.0170% / 4h	1h 23m	$131K	$360K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now +2.269%Rate

Funding earned: $971.96
Price spread: +2.269% → 0.000%: $226.87
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $1,186.81
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 61 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 Injective no order-book sample	—	—	—	—	—
Sell BloFin live order book, 61 min ago	8.14 bp	28.6 bp −$29	75.6 bp −$756	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PERPlong	−0.4288%	1h	0.05642	long leg	$3K	$2K	5.5x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05779	+2.425%	$1	—	10x	as long as short
Variational Omni POPCAT	+0.0020%	4h	0.05767	+2.224%	$497K	$180K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05760	+2.091%	$102K	$59K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05795	+2.707%	$2.6M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05770	+2.269%	$9.2M	$7.3M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05762	+2.127%	$700K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05780	+2.446%	$447K	$574K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05777	+2.393%	$1.9M	$1.0M	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05767	+2.216%	$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	0.05776	+2.375%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05760	+2.091%	—	$6.8M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05740	+1.737%	$22K	$655K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05756	+2.013%	$95K	$375K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0256%	4h	0.05763	+2.146%	$263K	$524K	10x	as long as short
BloFin POPCAT-USDTshort	+0.0340%	4h	0.05770	+2.269%	$131K	$360K	50x
Kraken Futures PF_POPCATUSD	+0.0391%	1h	0.05762	+2.120%	$151K	$158K	20x	as long as short
Hyperliquid POPCAT	+0.0554%	1h	0.05767	+2.212%	$2.7M	$1.4M	3x	as long as short