Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0535%/8h= −58.6% APRpaid last 24h +0.184%

Price spread now: KuCoin against Kraken Futures−0.091%7-day average +0.184% · you buy dearer than you sell

Net, funding: paid 7d − costs−$404as in the Funding arb table

Net, price: spread back to 7d avg − costs−$508as in the Price arb table

costs, in and out, $10k−$4804.800% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.756%+$76 on $10k

Price spread, last 3 days (all we have)+0.761%+$76 · spread now −0.091%, 7d avg +0.184%

Together, before fees+1.517%+$152 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and KuCoin is 0.275% cheaper against Kraken Futures than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of +0.184%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.756%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_POPCATUSD	0.05610	0.0635	pay 0.0079% / 1h	37m 02s	$149K	$146K	20x
Short	KuCoin POPCATUSDTM	0.05605	0.0100	get 0.0050% / 4h	2h 37m	$1.1M	$991K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Kraken Futures. 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 Kraken FuturesbpFee KuCoinbpOrdersPrice spread, now −0.091%Rate

Funding earned: −$112.37
Price spread: −0.091% → +0.184%: −$27.53
Slippage, 4 orders: −$458.01
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$619.91
Costs to cover: 4.800%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 30 min ago; KuCoin: live order book, 3 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 Kraken Futures live order book, 30 min ago	14.08 bp	61.6 bp −$62	18633.5 bp −$186.3K	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	11.63 bp	177.8 bp −$178	854.4 bp −$8,544	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	−0.5000%	1h	0.05524	−1.535%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05607	−0.048%	$1	—	10x	as long as short
Variational Omni POPCAT	+0.0073%	4h	0.05592	−0.320%	$507K	$162K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05610	−0.002%	$101K	$52K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05613	+0.052%	$2.3M	$6.8M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05595	−0.269%	$8.8M	$6.3M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05608	−0.037%	$692K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05602	−0.144%	$447K	$633K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05616	+0.105%	$1.8M	$969K	200x	as long as short
KuCoin POPCATUSDTMshort	+0.0100%	4h	0.05605	−0.091%	$1.1M	$991K	50x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDT	+0.0100%	4h	0.05604	−0.109%	$1.2M	$940K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05605	−0.091%	—	$1.6M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05609	−0.022%	$245K	$485K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05600	−0.180%	$22K	$656K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05608	−0.040%	$95K	$520K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05654	+0.783%	$125K	$301K	50x	as long as short
Kraken Futures PF_POPCATUSDlong	+0.0635%	1h	0.05610	long leg	$149K	$146K	20x
Hyperliquid POPCAT	+0.1131%	1h	0.05620	+0.184%	$2.6M	$991K	3x	as long as short