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: MEXC against Reya+0.060%7-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 MEXC

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 MEXC is 0.060% dearer against Reya than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya POPCATRUSDPERP	0.05666	−0.0228	get 0.0029% / 1h	42m 12s	$1	—	10x
Short	MEXC POPCAT_USDT	0.05669	0.0100	get 0.0050% / 4h	3h 42m	$1.8M	$973K	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.060%Rate

Funding earned: $68.94
Price spread: +0.060% → 0.000%: $6.04
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee MEXC: 2 bp × 2 orders: −$4
Net: $64.97
Costs to cover: 0.100%
Break-even: 0.4 days

Slippage unknown: Reya: no order-book sample; MEXC: live order book, 4 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 MEXC live order book, 4 min ago	5.28 bp	13.6 bp −$14	58.8 bp −$588	129.5 bp −$13.0K	260.8 bp −$130.4K

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	−1.528%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERPlong	−0.0228%	1h	0.05666	long leg	$1	—	10x
Variational Omni POPCAT	−0.0058%	4h	0.05660	−0.107%	$510K	$163K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05666	+0.007%	$102K	$56K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05671	+0.096%	$2.5M	$7.1M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05654	−0.204%	$8.9M	$6.5M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05665	−0.010%	$700K	$1.6M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05670	+0.078%	$447K	$631K	50x	as long as short
MEXC POPCAT_USDTshort	+0.0100%	4h	0.05669	+0.060%	$1.8M	$973K	200x
KuCoin POPCATUSDTM	+0.0100%	4h	0.05671	+0.096%	$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	0.05668	+0.043%	$1.2M	$939K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05661	−0.081%	—	$1.6M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05688	+0.403%	$254K	$502K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05670	+0.078%	$22K	$655K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05664	−0.025%	$97K	$523K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05668	+0.043%	$128K	$329K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0508%	1h	0.05662	−0.064%	$151K	$146K	20x	as long as short
Hyperliquid POPCAT	+0.0576%	1h	0.05674	+0.150%	$2.7M	$1.0M	3x	as long as short