Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0493%/8h= −53.9% APRpaid last 24h −0.054%

Price spread now: Kraken Futures against MEXC+0.038%7-day average −0.171% · you sell dearer than you buy

Net, funding: paid 7d − costs−$166as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$1131.133% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.528%−$53 on $10k

Price spread, last 3 days (all we have)−0.934%−$93 · spread now +0.038%, 7d avg −0.171%

Together, before fees−1.463%−$146 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.210% dearer against MEXC than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.171%): +$21 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC POPCAT_USDT	0.05657	0.0100	pay 0.0050% / 4h	3h 22m	$1.9M	$951K	200x
Short	Kraken Futures PF_POPCATUSD	0.05659	−0.0393	pay 0.0049% / 1h	22m 54s	$151K	$142K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$103.46
Price spread: +0.038% → −0.171%: $20.99
Slippage, 4 orders: −$99.33
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$195.8
Costs to cover: 1.133%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Kraken Futures: live order book, 49 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 MEXC live order book, 3 min ago	6.16 bp	16.0 bp −$16	36.7 bp −$367	133.7 bp −$13.4K	267.3 bp −$133.6K
Sell Kraken Futures live order book, 49 min ago	27.55 bp	42.7 bp −$43	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	−0.4945%	1h	0.05301	−6.293%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSDshort	−0.0393%	1h	0.05659	+0.038%	$151K	$142K	20x
Reya POPCATRUSDPERP	−0.0228%	1h	0.05656	−0.015%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05658	+0.018%	$102K	$46K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05658	+0.022%	$2.4M	$6.6M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05646	−0.194%	$9.0M	$6.1M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05659	+0.035%	$705K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05660	+0.053%	$456K	$647K	50x	as long as short
MEXC POPCAT_USDTlong	+0.0100%	4h	0.05657	long leg	$1.9M	$951K	200x
KuCoin POPCATUSDTM	+0.0100%	4h	0.05659	+0.035%	$1.1M	$989K	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	0.05655	−0.035%	$1.2M	$930K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05645	−0.212%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05657	+0.001%	$513K	$165K	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05660	+0.053%	$23K	$651K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05656	−0.026%	$97K	$527K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0334%	4h	0.05678	+0.371%	$254K	$473K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05661	+0.071%	$125K	$297K	50x	as long as short
Hyperliquid POPCAT	+0.1413%	1h	0.05672	+0.262%	$2.6M	$981K	3x	as long as short