Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.3474%/8h= +380.4% APRpaid last 24h +1.308%

Price spread now: BingX against Injective+0.900%102s7-day average — · you sell dearer than you buy

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

Long on Injective Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+4.593%+$459 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$104 a day on $10k at the current rate, and BingX is 0.900% dearer against Injective than usual: you sell high and buy low: +$90 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 102 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective POPCAT/USDC PERP	0.05443	−0.3374	get 0.0422% / 1h	13m 27s	$3K	$2K	5.5x
Short	BingX POPCAT-USDC	0.05492	0.0100	get 0.0050% / 4h	1h 13m	—	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. 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 InjectivebpFee BingXbpOrdersPrice spread, now +0.900%Rate

Funding earned: $729.58
Price spread: +0.900% → 0.000%: $90.02
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: $809.59
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BingX: live order book, 9 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 Injective no order-book sample	—	—	—	—	—
Sell BingX live order book, 9 min ago	12.73 bp	64.4 bp −$64	291.3 bp −$2,913	510.8 bp −$51.1K	doesn't fit

Injective: 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 PERPlong	−0.3374%	1h	0.05443	long leg	$3K	$2K	5.5x
Kraken Futures PF_POPCATUSD	−0.0931%	1h	0.05487	+0.808%	$143K	$118K	20x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05492	+0.900%	$1	—	10x	as long as short
Lighter POPCAT	+0.0096%	1h	0.05494	+0.937%	$100K	$45K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05495	+0.955%	$2.3M	$6.3M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05489	+0.845%	$8.8M	$5.9M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05492	+0.900%	$681K	$1.4M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05489	+0.845%	$432K	$674K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05500	+1.047%	$1.9M	$927K	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05502	+1.084%	$1.1M	$984K	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	0.05494	+0.937%	$1.1M	$893K	50x	as long as short
BingX POPCAT-USDCshort	+0.0100%	4h	0.05492	+0.900%	—	$1.6M	—
Variational Omni POPCAT	+0.0100%	4h	0.05487	+0.814%	$504K	$174K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05505	+1.141%	$243K	$468K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05500	+1.047%	$22K	$645K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05492	+0.898%	$97K	$440K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05496	+0.974%	$123K	$282K	50x	as long as short
Hyperliquid POPCAT	+0.0844%	1h	0.05504	+1.121%	$2.5M	$1.1M	3x	as long as short