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: MEXC against Lighter+0.139%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$660.661% of the position

Long on Lighter Short on MEXC

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)−0.238%−$24 · spread now +0.139%, 7d avg −0.020%

Together, before fees−0.657%+ Points / potential airdropLighter: Season 3 · farm board−$66 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: MEXC is 0.158% dearer against Lighter than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POPCAT	0.05769	0.0096	pay 0.0012% / 1h	25m 29s	$102K	$59K	10x
Short	MEXC POPCAT_USDT	0.05777	0.0100	get 0.0050% / 4h	1h 25m	$1.9M	$1.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.139%Rate

Funding earned: $0.84
Price spread: +0.139% → −0.020%: $15.85
Slippage, 4 orders: −$62.14
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$49.45
Costs to cover: 0.661%
Break-even: 419.1 days

Slippage from Lighter: live order book, 45 min ago; MEXC: live order book, 1 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, 45 min ago	18.39 bp	18.4 bp −$18	102.9 bp −$1,029	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	5.19 bp	15.5 bp −$16	74.7 bp −$747	151.0 bp −$15.1K	287.5 bp −$143.8K

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	−2.201%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05779	+0.171%	$1	—	10x	as long as short
Variational Omni POPCAT	+0.0020%	4h	0.05767	−0.026%	$497K	$180K	—	as long as short
Lighter POPCATlong	+0.0096%	1h	0.05769	long leg	$102K	$59K	10x
Binance POPCATUSDT	+0.0100%	4h	0.05776	+0.123%	$2.6M	$7.8M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05765	−0.069%	$9.2M	$7.3M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05766	−0.052%	$701K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05775	+0.104%	$446K	$574K	50x	as long as short
MEXC POPCAT_USDTshort	+0.0100%	4h	0.05777	+0.139%	$1.9M	$1.0M	200x
KuCoin POPCATUSDTM	+0.0100%	4h	0.05780	+0.191%	$1.2M	$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	0.05775	+0.104%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05769	0.000%	—	$6.8M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05740	−0.503%	$22K	$655K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05772	+0.045%	$95K	$375K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0256%	4h	0.05763	−0.102%	$263K	$524K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05760	−0.156%	$131K	$359K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0390%	1h	0.05775	+0.099%	$153K	$155K	20x	as long as short
Hyperliquid POPCAT	+0.0570%	1h	0.05775	+0.102%	$2.7M	$1.4M	3x	as long as short