Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0328%/8h= +35.9% APRpaid last 24h +0.214%

Price spread now: KuCoin against Reya−0.032%7-day average — · you buy dearer than you sell

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

Long on Reya Short on KuCoin

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

Funding pays, the price is against you. KuCoin is 0.032% cheaper against Reya than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 8 hours of funding at the current rate (+$10 a day).

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	11m 54s	$1	—	10x
Short	KuCoin POPCATUSDTM	0.05627	0.0100	get 0.0050% / 4h	11m 54s	$1.1M	$981K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.032%Rate

Funding earned: $68.94
Price spread: −0.032% → 0.000%: −$3.21
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $47.73
Costs to cover: 0.180%
Break-even: 2.2 days

Slippage unknown: Reya: no order-book sample; KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	8.89 bp	265.4 bp −$265	1099.3 bp −$11.0K	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	−0.4247%	1h	0.05544	−1.507%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERPlong	−0.0228%	1h	0.05629	long leg	$1	—	10x
Variational Omni POPCAT	−0.0043%	4h	0.05617	−0.218%	$507K	$163K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05632	+0.057%	$101K	$51K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05633	+0.074%	$2.4M	$7.0M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05624	−0.085%	$8.8M	$6.4M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05633	+0.074%	$696K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05630	+0.021%	$445K	$636K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05631	+0.039%	$1.8M	$969K	200x	as long as short
KuCoin POPCATUSDTMshort	+0.0100%	4h	0.05627	−0.032%	$1.1M	$981K	50x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDT	+0.0100%	4h	0.05629	+0.003%	$1.2M	$937K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05630	+0.021%	—	$6.7M	—	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05620	−0.156%	$22K	$652K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05626	−0.046%	$96K	$525K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0178%	4h	0.05636	+0.127%	$248K	$502K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05637	+0.146%	$126K	$328K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0575%	1h	0.05633	+0.068%	$150K	$146K	20x	as long as short
Hyperliquid POPCAT	+0.1073%	1h	0.05641	+0.213%	$2.6M	$1.0M	3x	as long as short