Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.149%

Price spread now: Binance against Lighter+0.036%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$730.731% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.419%−$42 on $10k

Price spread, last 4 days (all we have)−0.347%−$35 · spread now +0.036%, 7d avg −0.019%

Together, before fees−0.766%+ Points / potential airdropLighter: Season 3 · farm board−$77 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: Binance is 0.055% dearer against Lighter than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POPCAT	0.05492	0.0096	pay 0.0012% / 1h	47m 58s	$100K	$45K	10x
Short	Binance POPCATUSDT	0.05494	0.0100	get 0.0050% / 4h	1h 47m	$2.3M	$6.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now +0.036%Rate

Funding earned: $0.84
Price spread: +0.036% → −0.019%: $5.53
Slippage, 4 orders: −$63.11
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$66.74
Costs to cover: 0.731%
Break-even: 563.1 days

Slippage from Lighter: live order book, 25 min ago; Binance: live order book, 6 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 Lighter live order book, 25 min ago	10.02 bp	10.9 bp −$11	83.2 bp −$832	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	1.82 bp	24.2 bp −$24	82.4 bp −$824	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	−0.3374%	1h	0.05417	−1.366%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0932%	1h	0.05482	−0.188%	$140K	$114K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05494	+0.030%	$1	—	10x	as long as short
Lighter POPCATlong	+0.0096%	1h	0.05492	long leg	$100K	$45K	10x
Binance POPCATUSDTshort	+0.0100%	4h	0.05494	+0.036%	$2.3M	$6.3M	50x
Bybit POPCATUSDT	+0.0100%	4h	0.05486	−0.109%	$8.8M	$5.8M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05493	+0.018%	$675K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05487	−0.091%	$416K	$649K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05494	+0.036%	$1.9M	$919K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05495	+0.055%	$1.1M	$996K	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	0.05489	−0.055%	$1.1M	$885K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05490	−0.036%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05487	−0.100%	$504K	$175K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05502	+0.182%	$244K	$480K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05500	+0.146%	$22K	$646K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05493	+0.012%	$97K	$440K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05499	+0.127%	$123K	$284K	50x	as long as short
Hyperliquid POPCAT	+0.0892%	1h	0.05502	+0.184%	$2.5M	$1.1M	3x	as long as short