Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0312%/8h= +34.1% APRpaid last 24h −0.088%

Price spread now: Kraken Futures against MEXC−0.086%7-day average −0.173% · you buy dearer than you sell

Net, funding: paid 7d − costs−$220as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1701.696% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.502%−$50 on $10k

Price spread, last 4 days (all we have)−0.923%−$92 · spread now −0.086%, 7d avg −0.173%

Together, before fees−1.425%−$142 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Kraken Futures is 0.087% dearer against MEXC than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.173%. Mind the row above: over the last 7 days funding on this pair cost −0.502%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC POPCAT_USDT	0.05609	0.0100	pay 0.0050% / 4h	2h 44m	$1.8M	$995K	200x
Short	Kraken Futures PF_POPCATUSD	0.05604	0.0412	get 0.0051% / 1h	44m 44s	$149K	$146K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.086%Rate

Funding earned: $65.47
Price spread: −0.086% → −0.173%: $8.71
Slippage, 4 orders: −$155.59
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$95.41
Costs to cover: 1.696%
Break-even: 17.2 days

Slippage from MEXC: live order book, 1 min ago; Kraken Futures: live order book, 3 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 MEXC live order book, 1 min ago	0.89 bp	18.1 bp −$18	65.5 bp −$655	130.2 bp −$13.0K	264.0 bp −$132.0K
Sell Kraken Futures live order book, 3 min ago	25.84 bp	67.8 bp −$68	doesn't fit	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	−0.4088%	1h	0.05563	−0.820%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05608	−0.025%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0086%	4h	0.05594	−0.267%	$476K	$175K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05603	−0.107%	$101K	$56K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05608	−0.018%	$2.5M	$7.3M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05594	−0.267%	$8.8M	$6.7M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05600	−0.160%	$686K	$1.6M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05610	+0.018%	$445K	$635K	50x	as long as short
MEXC POPCAT_USDTlong	+0.0100%	4h	0.05609	long leg	$1.8M	$995K	200x
KuCoin POPCATUSDTM	+0.0100%	4h	0.05610	+0.018%	$1.1M	$987K	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	0.05604	−0.089%	$1.2M	$950K	50x	as long as short
BingX POPCAT-USDT	+0.0100%	4h	0.05600	−0.160%	—	$6.8M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05619	+0.178%	$250K	$502K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05620	+0.196%	$22K	$654K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05601	−0.138%	$97K	$405K	10x	as long as short
Hyperliquid POPCAT	+0.0210%	1h	0.05608	−0.025%	$2.6M	$1.1M	3x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05612	+0.053%	$129K	$327K	50x	as long as short
Kraken Futures PF_POPCATUSDshort	+0.0412%	1h	0.05604	−0.086%	$149K	$146K	20x