POPCAT

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0324%/8h= +35.5% APRnext payment +$0.41 per $10,000 · paid last 24h +0.222%

Price spread now: Lighter against Reya−0.052%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 Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.052% cheaper against Reya than usual: you would sell low and buy high (spread −0.052% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 13 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	0.05591	−0.0228	get 0.0029% / 1h	51m 33s	$1	—	10x
Short	Lighter POPCAT	0.05588	0.0096	get 0.0012% / 1h	51m 33s	$100K	$51K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.052%Rate

Funding earned: $68.1
Price spread: −0.052% → 0.000%: −$5.2
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: $56.89
Costs to cover: 0.060%
Break-even: 1.2 days

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 49 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 Lighter live order book, 49 min ago	19.74 bp	64.5 bp −$64	666.0 bp −$6,660	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 17 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	0.05519	−1.286%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERPlong	−0.0228%	1h	0.05591	long leg	$1	—	10x
Variational Omni POPCAT	−0.0031%	4h	0.05600	+0.164%	$504K	$161K	—	as long as short
Lighter POPCATshort	+0.0096%	1h	0.05588	−0.052%	$100K	$51K	10x
Binance POPCATUSDT	+0.0100%	4h	0.05591	+0.006%	$2.3M	$6.8M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05579	−0.213%	$8.8M	$6.3M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05591	+0.002%	$690K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05588	−0.052%	$446K	$635K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05593	+0.037%	$1.8M	$951K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05595	+0.073%	$1.1M	$986K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDT	+0.0100%	4h	0.05593	+0.037%	$1.2M	$931K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05585	−0.106%	—	$1.6M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05598	+0.121%	$245K	$485K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05590	−0.016%	$22K	$655K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05589	−0.029%	$96K	$524K	10x	as long as short
Kraken Futures PF_POPCATUSD	+0.0296%	1h	0.05591	−0.005%	$150K	$146K	20x	as long as short
Hyperliquid POPCAT	+0.1110%	1h	0.05605	+0.245%	$2.6M	$997K	3x	as long as short