POPCAT

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h −0.138%

Price spread now: Extended against Lighter−0.018%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$225as in the Funding arb table

Net, price: spread back to 7d avg − costs−$177as in the Price arb table

costs, in and out, $10k−$1841.843% of the position

Long on Lighter Short on Extended

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.192%−$19 · spread now −0.018%, 7d avg −0.090%

Together, before fees−0.603%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board−$60 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: Extended is 0.072% dearer against Lighter than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POPCAT	0.05639	0.0096	pay 0.0012% / 1h	2m 47s	$101K	$46K	10x
Short	Extended POPCAT-USD	0.05638	0.0104	get 0.0013% / 1h	2m 47s	$97K	$523K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.018%Rate

Funding earned: $1.68
Price spread: −0.018% → −0.090%: $7.21
Slippage, 4 orders: −$179.32
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$175.42
Costs to cover: 1.843%
Break-even: 737.9 days

Slippage from Lighter: live order book, 43 min ago; Extended: live order book, 5 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, 43 min ago	17.70 bp	18.5 bp −$19	89.8 bp −$898	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	4.40 bp	88.1 bp −$88	415.4 bp −$4,154	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	−0.4945%	1h	0.05301	−5.994%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0394%	1h	0.05645	+0.100%	$150K	$144K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05640	+0.014%	$1	—	10x	as long as short
Lighter POPCATlong	+0.0096%	1h	0.05639	long leg	$101K	$46K	10x
Binance POPCATUSDT	+0.0100%	4h	0.05639	+0.004%	$2.3M	$6.7M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05630	−0.160%	$8.9M	$6.2M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05642	+0.053%	$699K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05642	+0.053%	$454K	$649K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05637	−0.035%	$1.9M	$959K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05638	−0.018%	$1.1M	$988K	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	0.05636	−0.053%	$1.2M	$942K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05636	−0.053%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05655	+0.283%	$513K	$163K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05660	+0.372%	$22K	$652K	25x	as long as short
Extended POPCAT-USDshort	+0.0104%	1h	0.05638	−0.018%	$97K	$523K	10x
GRVT POPCAT_USDT_Perp	+0.0112%	4h	0.05674	+0.622%	$246K	$481K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05685	+0.816%	$125K	$298K	50x	as long as short
Hyperliquid POPCAT	+0.1537%	1h	0.05653	+0.241%	$2.6M	$973K	3x	as long as short