Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.091%

Price spread now: Gate against Lighter+0.157%7-day average −0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs−$226as in the Funding arb table

Net, price: spread back to 7d avg − costs−$157as in the Price arb table

costs, in and out, $10k−$1841.839% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.420%−$42 on $10k

Price spread, last 4 days (all we have)−0.379%−$38 · spread now +0.157%, 7d avg −0.107%

Together, before fees−0.799%+ Points / potential airdropLighter: Season 3 · farm board−$80 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: Gate is 0.265% dearer against Lighter than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of −0.107%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POPCAT	0.05721	0.0096	pay 0.0012% / 1h	48m 27s	$102K	$57K	10x
Short	Gate POPCAT_USDT	0.05730	0.0100	get 0.0050% / 4h	1h 48m	$445K	$570K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.157%Rate

Funding earned: $0.84
Price spread: +0.157% → −0.107%: $26.46
Slippage, 4 orders: −$168.89
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$156.59
Costs to cover: 1.839%
Break-even: 1311.9 days

Slippage from Lighter: live order book, 22 min ago; Gate: live order book, 58 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, 22 min ago	18.39 bp	18.4 bp −$18	102.9 bp −$1,029	doesn't fit	doesn't fit
Sell Gate live order book, 58 min ago	6.24 bp	105.8 bp −$106	doesn't fit	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	−0.4288%	1h	0.05642	−1.381%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05731	+0.181%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0021%	4h	0.05716	−0.095%	$485K	$176K	—	as long as short
Lighter POPCATlong	+0.0096%	1h	0.05721	long leg	$102K	$57K	10x
Binance POPCATUSDT	+0.0100%	4h	0.05734	+0.227%	$2.5M	$7.7M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05725	+0.070%	$9.0M	$7.1M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05733	+0.210%	$694K	$1.7M	20x	as long as short
Gate POPCAT_USDTshort	+0.0100%	4h	0.05730	+0.157%	$445K	$570K	50x
MEXC POPCAT_USDT	+0.0100%	4h	0.05736	+0.262%	$1.8M	$1.0M	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05737	+0.280%	$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	0.05736	+0.262%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05735	+0.245%	—	$1.6M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05730	+0.157%	$22K	$656K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05735	+0.244%	$95K	$379K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0250%	4h	0.05737	+0.272%	$249K	$511K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05738	+0.297%	$131K	$358K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0394%	1h	0.05719	−0.041%	$152K	$155K	20x	as long as short
Hyperliquid POPCAT	+0.0439%	1h	0.05739	+0.311%	$2.7M	$1.4M	3x	as long as short