Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Bitget−0.131%7-day average −0.097% · you buy dearer than you sell

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

Long on Bitget Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.155%+$15 · spread now −0.131%, 7d avg −0.097%

Together, before fees+0.155%+ Points / potential airdropVariational Omni: Active · farm board+$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.034% cheaper against Bitget than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget POPCATUSDT	0.05488	0.0100	pay 0.0050% / 4h	1h 29m	$1.1M	$893K	50x
Short	Variational Omni POPCAT	0.05481	0.0100	get 0.0050% / 4h	1h 29m	$503K	$175K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpFee Variational OmnibpOrdersPrice spread, now −0.131%Rate

Funding earned: $0
Price spread: −0.131% → −0.097%: −$3.43
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$15.43
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 2 min ago; Variational Omni: RFQ quote, 55 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 Bitget live order book, 2 min ago	6.38 bp	39.7 bp −$40	147.9 bp −$1,479	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 55 min ago	6.36 bp	doesn't fit	115.5 bp −$1,155	doesn't fit	doesn't fit

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	−0.3374%	1h	0.05443	−0.820%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.0934%	1h	0.05472	−0.282%	$143K	$118K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05491	+0.051%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05489	+0.018%	$100K	$45K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05494	+0.111%	$2.3M	$6.4M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05483	−0.091%	$8.8M	$5.9M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05485	−0.055%	$680K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05481	−0.128%	$431K	$674K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05494	+0.109%	$1.9M	$924K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05489	+0.018%	$1.1M	$998K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget POPCATUSDTlong	+0.0100%	4h	0.05488	long leg	$1.1M	$893K	50x
BingX POPCAT-USDT	+0.0100%	4h	0.05486	−0.036%	—	$6.8M	—	as long as short
Variational Omni POPCATshort	+0.0100%	4h	0.05481	−0.131%	$503K	$175K	—
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05497	+0.164%	$243K	$490K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05510	+0.401%	$22K	$647K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05491	+0.054%	$97K	$440K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05503	+0.273%	$123K	$283K	50x	as long as short
Hyperliquid POPCAT	+0.0778%	1h	0.05500	+0.222%	$2.5M	$1.1M	3x	as long as short