Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.098%

Price spread now: Reya against MEXC−0.078%7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Reya is 0.078% cheaper against MEXC than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC POPCAT_USDT	0.05670	0.0100	pay 0.0050% / 4h	3h 41m	$1.8M	$973K	200x
Short	Reya POPCATRUSDPERP	0.05666	−0.0228	pay 0.0029% / 1h	41m 46s	$1	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.078%Rate

Funding earned: −$68.94
Price spread: −0.078% → 0.000%: −$7.8
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Reya: 3 bp × 2 orders: −$6
Net: −$86.73
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 min ago; Reya: 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, 5 min ago	5.28 bp	15.8 bp −$16	66.0 bp −$660	129.6 bp −$13.0K	260.6 bp −$130.3K
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 PERP	−0.4864%	1h	0.05579	−1.605%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERPshort	−0.0228%	1h	0.05666	−0.078%	$1	—	10x
Variational Omni POPCAT	−0.0058%	4h	0.05660	−0.185%	$510K	$163K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05663	−0.123%	$102K	$56K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05666	−0.072%	$2.5M	$7.1M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05654	−0.282%	$8.9M	$6.5M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05665	−0.088%	$700K	$1.6M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05670	0.000%	$447K	$631K	50x	as long as short
MEXC POPCAT_USDTlong	+0.0100%	4h	0.05670	long leg	$1.8M	$973K	200x
KuCoin POPCATUSDTM	+0.0100%	4h	0.05673	+0.053%	$1.1M	$979K	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	0.05666	−0.071%	$1.2M	$939K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05661	−0.159%	—	$1.6M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05688	+0.324%	$254K	$502K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05670	0.000%	$22K	$655K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05664	−0.108%	$97K	$523K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05668	−0.035%	$128K	$329K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0508%	1h	0.05662	−0.141%	$151K	$146K	20x	as long as short
Hyperliquid POPCAT	+0.0582%	1h	0.05673	+0.048%	$2.7M	$1.0M	3x	as long as short