Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0460%/8h= +50.4% APRpaid last 24h +0.155%

Price spread now: OKX against Kraken Futures−0.032%7-day average +0.119% · you buy dearer than you sell

Net, funding: paid 7d − costs−$156as in the Funding arb table

Net, price: spread back to 7d avg − costs−$219as in the Price arb table

costs, in and out, $10k−$2042.039% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.480%+$48 on $10k

Price spread, last 4 days (all we have)+1.156%+$116 · spread now −0.032%, 7d avg +0.119%

Together, before fees+1.637%+$164 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.151% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of +0.119%). If the spread goes back, that is −$15 on $10k: about 26 hours of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.480% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_POPCATUSD	0.05716	−0.0360	get 0.0045% / 1h	58m 06s	$151K	$122K	20x
Short	OKX POPCAT-USDT-SWAP	0.05714	0.0100	get 0.0050% / 4h	58m 06s	$687K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.032%Rate

Funding earned: $96.64
Price spread: −0.032% → +0.119%: −$15.11
Slippage, 4 orders: −$183.87
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$122.34
Costs to cover: 2.039%
Break-even: 15.9 days

Slippage from Kraken Futures: live order book, 47 min ago; OKX: live order book, 2 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, 47 min ago	19.28 bp	64.2 bp −$64	19274.6 bp −$192.7K	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	6.12 bp	36.9 bp −$37	doesn't fit	doesn't fit	doesn't fit

POPCAT on 18 exchanges

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	−0.4412%	1h	0.05561	−2.709%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSDlong	−0.0360%	1h	0.05716	long leg	$151K	$122K	20x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05712	−0.072%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05714	−0.032%	$97K	$49K	10x	as long as short
Hyperliquid POPCAT	+0.0100%	1h	0.05724	+0.139%	$2.7M	$1.3M	3x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05722	+0.101%	$2.5M	$7.0M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05711	−0.085%	$9.2M	$6.6M	50x	as long as short
OKX POPCAT-USDT-SWAPshort	+0.0100%	4h	0.05714	−0.032%	$687K	$1.4M	20x
Gate POPCAT_USDT	+0.0100%	4h	0.05714	−0.032%	$425K	$456K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05718	+0.038%	$1.8M	$933K	200x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin POPCATUSDTM	+0.0100%	4h	0.05719	+0.055%	$1.1M	$770K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05715	−0.015%	$1.2M	$783K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05716	+0.003%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05711	−0.076%	$543K	$195K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05730	+0.248%	$21K	$657K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05712	−0.072%	$93K	$739K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0110%	4h	0.05728	+0.208%	$253K	$452K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05721	+0.090%	$132K	$297K	50x	as long as short