Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.008%

Price spread now: Variational Omni against Bybit+0.516%7-day average +0.004% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.204%−$20 · spread now +0.516%, 7d avg +0.004%

Together, before fees−0.212%+ Points / potential airdropVariational Omni: Active · farm board−$21 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 0.511% dearer against Bybit than usual: you sell high and buy low, +$51 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit POPCATUSDT	0.05638	0.0100	pay 0.0050% / 4h	3h 33m	$8.9M	$7.5M	50x
Short	Variational Omni POPCAT	0.05667	0.0100	get 0.0050% / 4h	3h 33m	$480K	$179K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now +0.516%Rate

Funding earned: $0
Price spread: +0.516% → +0.004%: $51.14
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $40.14
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 5 min ago; Variational Omni: RFQ quote, just now. 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 Bybit live order book, 5 min ago	3.53 bp	21.0 bp −$21	76.5 bp −$765	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	5.30 bp	doesn't fit	81.2 bp −$812	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	−0.4200%	1h	0.05620	−0.319%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1116%	1h	0.05673	+0.623%	$152K	$151K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05675	+0.649%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05652	+0.248%	$98K	$55K	10x	as long as short
Hyperliquid POPCAT	+0.0100%	1h	0.05654	+0.284%	$2.7M	$1.4M	3x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05657	+0.338%	$2.5M	$7.9M	50x	as long as short
Bybit POPCATUSDTlong	+0.0100%	4h	0.05638	long leg	$8.9M	$7.5M	50x
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05648	+0.177%	$683K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05660	+0.390%	$406K	$470K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05653	+0.266%	$1.9M	$1.1M	200x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin POPCATUSDTM	+0.0100%	4h	0.05660	+0.390%	$1.1M	$847K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05646	+0.142%	$1.2M	$982K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05646	+0.142%	—	$1.6M	—	as long as short
Variational Omni POPCATshort	+0.0100%	4h	0.05667	+0.516%	$480K	$179K	—
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05685	+0.835%	$249K	$477K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05670	+0.568%	$22K	$654K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05649	+0.196%	$96K	$750K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05680	+0.745%	$130K	$339K	50x	as long as short