Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0328%/8h= +35.9% APRpaid last 24h +0.099%

Price spread now: Binance against Reya+0.072%45s7-day average — · you sell dearer than you buy

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

Long on Reya Short on Binance

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 for this trade now. Funding pays +$10 a day on $10k at the current rate, and Binance is 0.072% dearer against Reya than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 45 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	Reya POPCATRUSDPERP	0.05629	−0.0228	get 0.0029% / 1h	26m 38s	$1	—	10x
Short	Binance POPCATUSDT	0.05633	0.0100	get 0.0050% / 4h	1h 26m	$2.3M	$6.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Reya. 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 ReyabpFee BinancebpOrdersPrice spread, now +0.072%Rate

Funding earned: $68.94
Price spread: +0.072% → 0.000%: $7.2
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: $60.14
Costs to cover: 0.160%
Break-even: 0.9 days

Slippage unknown: Reya: no order-book sample; Binance: live order book, 12 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	2.67 bp	22.9 bp −$23	81.4 bp −$814	doesn't fit	doesn't fit

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	−0.4257%	1h	0.05560	−1.225%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERPlong	−0.0228%	1h	0.05629	long leg	$1	—	10x
Variational Omni POPCAT	−0.0120%	4h	0.05631	+0.034%	$510K	$162K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05630	+0.019%	$101K	$51K	10x	as long as short
Binance POPCATUSDTshort	+0.0100%	4h	0.05633	+0.072%	$2.3M	$6.9M	50x
Bybit POPCATUSDT	+0.0100%	4h	0.05614	−0.265%	$8.8M	$6.3M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05625	−0.070%	$694K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05630	+0.019%	$446K	$637K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05634	+0.090%	$1.8M	$957K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05631	+0.037%	$1.1M	$986K	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	0.05631	+0.037%	$1.2M	$938K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05622	−0.123%	—	$6.7M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05650	+0.374%	$22K	$651K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05630	+0.023%	$96K	$529K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0140%	4h	0.05644	+0.267%	$252K	$494K	10x	as long as short
Kraken Futures PF_POPCATUSD	+0.0294%	1h	0.05631	+0.039%	$151K	$146K	20x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05630	+0.019%	$124K	$325K	50x	as long as short
Hyperliquid POPCAT	+0.0809%	1h	0.05640	+0.204%	$2.6M	$997K	3x	as long as short