Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bybit against Extended−0.529%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$198as in the Funding arb table

Net, price: spread back to 7d avg − costs−$242as in the Price arb table

costs, in and out, $10k−$1971.969% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.488%+$49 · spread now −0.529%, 7d avg −0.080%

Together, before fees+0.479%+ Points / potential airdropExtended: Active · farm board+$48 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: Bybit is 0.449% cheaper against Extended than usual: you would sell low and buy high, −$45 on $10k if it goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended POPCAT-USD	0.05636	0.0104	pay 0.0013% / 1h	43m 03s	$96K	$525K	10x
Short	Bybit POPCATUSDT	0.05606	0.0100	get 0.0050% / 4h	2h 43m	$8.9M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.529%Rate

Funding earned: −$0.84
Price spread: −0.529% → −0.080%: −$44.94
Slippage, 4 orders: −$180.91
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$242.69
Costs to cover: 1.969%
Break-even: never at this rate

Slippage from Extended: live order book, 25 min ago; Bybit: live order book, 5 min ago.

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 Extended live order book, 25 min ago	4.40 bp	60.0 bp −$60	422.6 bp −$4,226	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	4.43 bp	25.0 bp −$25	101.5 bp −$1,015	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	−0.5000%	1h	0.05540	−1.701%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05637	+0.019%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05636	+0.003%	$101K	$52K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05627	−0.150%	$2.3M	$6.8M	50x	as long as short
Bybit POPCATUSDTshort	+0.0100%	4h	0.05606	−0.529%	$8.9M	$6.2M	50x
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05616	−0.352%	$696K	$1.5M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05640	+0.074%	$453K	$621K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05638	+0.038%	$1.8M	$962K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05638	+0.038%	$1.1M	$991K	50x	as long as short
Bitget POPCATUSDT	+0.0100%	4h	0.05636	+0.003%	$1.2M	$937K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX POPCAT-USDT	+0.0100%	4h	0.05632	−0.068%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05626	−0.172%	$511K	$162K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05649	+0.233%	$247K	$485K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05640	+0.074%	$22K	$656K	25x	as long as short
Extended POPCAT-USDlong	+0.0104%	1h	0.05636	long leg	$96K	$525K	10x
BloFin POPCAT-USDT	+0.0340%	4h	0.05654	+0.322%	$125K	$301K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0632%	1h	0.05637	+0.016%	$150K	$144K	20x	as long as short
Hyperliquid POPCAT	+0.1340%	1h	0.05645	+0.170%	$2.6M	$985K	3x	as long as short