Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.4388%/8h= −480.5% APRpaid last 24h −1.342%

Price spread now: Injective against MEXC−2.438%55s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−4.990%−$499 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$132 a day on $10k at the current rate, and Injective is 2.438% cheaper against MEXC than usual: you would sell low and buy high (−$244 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC POPCAT_USDT	0.05783	0.0100	pay 0.0050% / 4h	1h 16m	$1.9M	$1.0M	200x
Short	Injective POPCAT/USDC PERP	0.05642	−0.4288	pay 0.0536% / 1h	16m 16s	$3K	$2K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against MEXC. 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 MEXCbpFee InjectivebpOrdersPrice spread, now −2.438%Rate

Funding earned: −$921.56
Price spread: −2.438% → 0.000%: −$243.82
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,169.4
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, just now; Injective: no order-book sample. Net counts fees only.

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 MEXC live order book, just now	4.32 bp	12.8 bp −$13	64.6 bp −$646	119.7 bp −$12.0K	248.2 bp −$124.1K
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PERPshort	−0.4288%	1h	0.05642	−2.438%	$3K	$2K	5.5x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05762	−0.370%	$1	—	10x	as long as short
Variational Omni POPCAT	+0.0032%	4h	0.05767	−0.268%	$496K	$180K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05780	−0.052%	$103K	$59K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05783	−0.007%	$2.6M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05770	−0.225%	$9.2M	$7.4M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05780	−0.052%	$704K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05780	−0.052%	$446K	$576K	50x	as long as short
MEXC POPCAT_USDTlong	+0.0100%	4h	0.05783	long leg	$1.9M	$1.0M	200x
KuCoin POPCATUSDTM	+0.0100%	4h	0.05782	−0.017%	$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	0.05781	−0.035%	$1.2M	$1.0M	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05766	−0.294%	—	$1.6M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05780	−0.052%	$23K	$658K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05782	−0.011%	$94K	$381K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0232%	4h	0.05777	−0.103%	$263K	$517K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05770	−0.225%	$132K	$360K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0390%	1h	0.05769	−0.251%	$152K	$158K	20x	as long as short
Hyperliquid POPCAT	+0.0406%	1h	0.05790	+0.128%	$2.7M	$1.4M	3x	as long as short