Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.099%

Price spread now: Lighter against MEXC+0.107%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$570.575% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.419%+$42 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.107%, 7d avg +0.019%

Together, before fees+0.421%+ Points / potential airdropLighter: Season 3 · farm board+$42 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: Lighter is 0.087% dearer against MEXC than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC POPCAT_USDT	0.05613	0.0100	pay 0.0050% / 4h	2h 47m	$1.8M	$995K	200x
Short	Lighter POPCAT	0.05619	0.0096	get 0.0012% / 1h	47m 28s	$101K	$56K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.107%Rate

Funding earned: −$0.84
Price spread: +0.107% → +0.019%: $8.74
Slippage, 4 orders: −$53.49
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$49.58
Costs to cover: 0.575%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Lighter: live order book, 38 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, 4 min ago	4.43 bp	15.9 bp −$16	35.8 bp −$358	130.2 bp −$13.0K	262.8 bp −$131.4K
Sell Lighter live order book, 38 min ago	12.32 bp	12.3 bp −$12	503.1 bp −$5,031	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	−0.891%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERP	−0.0228%	1h	0.05608	−0.087%	$1	—	10x	as long as short
Variational Omni POPCAT	−0.0094%	4h	0.05622	+0.161%	$506K	$148K	—	as long as short
Lighter POPCATshort	+0.0096%	1h	0.05619	+0.107%	$101K	$56K	10x
Binance POPCATUSDT	+0.0100%	4h	0.05616	+0.054%	$2.5M	$7.3M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05601	−0.214%	$8.8M	$6.7M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05609	−0.071%	$687K	$1.6M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05620	+0.125%	$445K	$635K	50x	as long as short
MEXC POPCAT_USDTlong	+0.0100%	4h	0.05613	long leg	$1.8M	$995K	200x
KuCoin POPCATUSDTM	+0.0100%	4h	0.05619	+0.107%	$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	0.05611	−0.036%	$1.2M	$950K	50x	as long as short
BingX POPCAT-USDC	+0.0100%	4h	0.05606	−0.125%	—	$1.6M	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05644	+0.546%	$251K	$502K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05640	+0.481%	$22K	$654K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05608	−0.081%	$97K	$405K	10x	as long as short
Hyperliquid POPCAT	+0.0302%	1h	0.05614	+0.018%	$2.6M	$1.1M	3x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05628	+0.267%	$129K	$328K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0410%	1h	0.05629	+0.287%	$150K	$146K	20x	as long as short