Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0328%/8h= +35.9% APRpaid last 24h +0.098%

Price spread now: BingX against Reya−0.019%7-day average — · you buy dearer than you sell

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

Long on Reya Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya POPCATRUSDPERP	0.05708	−0.0228	get 0.0029% / 1h	6m 14s	$1	—	10x
Short	BingX POPCAT-USDT	0.05707	0.0100	get 0.0050% / 4h	2h 06m	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Reya. 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 ReyabpFee BingXbpOrdersPrice spread, now −0.019%Rate

Funding earned: $68.94
Price spread: −0.019% → 0.000%: −$1.88
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: $51.06
Costs to cover: 0.160%
Break-even: 1.8 days

Slippage unknown: Reya: no order-book sample; BingX: live order book, 16 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 Reya no order-book sample	—	—	—	—	—
Sell BingX live order book, 16 min ago	5.43 bp	32.0 bp −$32	75.9 bp −$759	399.9 bp −$40.0K	736.3 bp −$368.2K

Reya: 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 PERP	−0.4088%	1h	0.05595	−1.981%	$3K	$2K	5.5x	as long as short
Reya POPCATRUSDPERPlong	−0.0228%	1h	0.05708	long leg	$1	—	10x
Variational Omni POPCAT	−0.0007%	4h	0.05693	−0.264%	$484K	$175K	—	as long as short
Lighter POPCAT	+0.0096%	1h	0.05703	−0.089%	$101K	$57K	10x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05707	−0.019%	$2.5M	$7.6M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05696	−0.211%	$8.9M	$6.9M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05706	−0.036%	$692K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05710	+0.034%	$445K	$651K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05707	−0.019%	$1.8M	$1.0M	200x	as long as short
KuCoin POPCATUSDTM	+0.0100%	4h	0.05712	+0.069%	$1.1M	$1.0M	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	0.05705	−0.054%	$1.2M	$982K	50x	as long as short
BingX POPCAT-USDTshort	+0.0100%	4h	0.05707	−0.019%	—	$6.8M	—
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05700	−0.141%	$22K	$654K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05703	−0.091%	$94K	$391K	10x	as long as short
GRVT POPCAT_USDT_Perp	+0.0216%	4h	0.05705	−0.059%	$258K	$500K	10x	as long as short
Hyperliquid POPCAT	+0.0276%	1h	0.05708	0.000%	$2.7M	$1.4M	3x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05701	−0.124%	$127K	$344K	50x	as long as short
Kraken Futures PF_POPCATUSD	+0.0405%	1h	0.05703	−0.097%	$151K	$155K	20x	as long as short