POPCAT funding rates

POPCAT perpetual funding across 10 venues. Rates are annualized (APR); positive means longs pay shorts.

Data as of 2026-10-12 04:41 UTC · refreshed every 5 min

Best pair · 7d: 5.7%long Variational, short GRVT · net 3.4%
Highest funding now: 11.4%Extended
Lowest funding now: 10.5%Lighter
Listed on: 10 venues

Funding by venue

													Open
Extended	POPCAT-USD	11.4%	11.4%	11.4%	11.4%	11.4%	100%	1h	05:00	0.04868	$34k	$177k	ExExtended
Hyperliquid	POPCAT	10.9%	10.9%	12.5%	19.5%	12.7%	100%	1h	—	0.04875	$2.3M	$124k	HyHyperliquid
GRVT	POPCAT_USDT_Perp	10.9%	15.5%	16.1%	18.9%	16.2%	100%	4h	08:00	0.04877	$218k	$425k	GrGRVT
BinanceCEX	POPCATUSDT	10.9%	10.9%	10.9%	10.9%	10.9%	100%	4h	08:00	0.04868	$2.0M	$984k	BnBinance
BybitCEX	POPCATUSDT	10.9%	10.9%	10.9%	10.9%	10.9%	100%	4h	08:00	0.0487	$6.5M	$1.1M	ByBybit
BitgetCEX	POPCATUSDT	10.9%	10.9%	10.9%	10.9%	10.9%	100%	4h	08:00	0.04869	$967k	$78k	BgBitget
GateCEX	POPCAT_USDT	10.9%	10.9%	10.9%	10.9%	10.9%	100%	4h	08:00	0.04879	$367k	$38k	GtGate
MEXCCEX	POPCAT_USDT	10.9%	10.9%	10.9%	11.0%	10.9%	100%	4h	08:00	0.04876	$879k	$258k	MxMEXC
Variational	POPCAT	10.9%	9.1%	10.4%	8.9%	10.6%	99%	4h	—	0.04856	$419k	$50k	VaVariational
Lighter	POPCAT	10.5%	10.5%	10.5%	15.8%	10.5%	100%	1h	05:00	0.04892	$41k	$14k	LiLighter

Sparklines: hourly funding APR over the last 7 days, zero line dashed.

Long/short pairs

Funding spreads, annualized: short-leg rate minus long-leg rate.
											Flags	Open	Calc
		Spread APR				After taker fees			Quality
Variational	GRVT	0.0%	6.4%	5.7%	10.0%	3.4%	5.1%	5.7d	steady	$218k	spread not incl.	Va Gr	calc
MEXCCEX	GRVT	0.0%	4.6%	5.2%	7.9%	1.8%	2.7%	9.2d	cooling	$218k		Mx Gr	calc
Lighter	GRVT	0.4%	5.0%	5.6%	3.1%	3.3%	4.9%	5.9d	steady	$41k	low OI1h/4h	Li Gr	calc
Extended	GRVT	−0.4%	4.1%	4.7%	7.5%	1.1%	1.6%	11d	mixed	$34k	low OI1h/4h	Ex Gr	calc
BinanceCEX	GRVT	0.0%	4.6%	5.2%	8.5%	0.2%	0.3%	13d	cooling	$218k		Bn Gr	calc
Variational	Lighter	−0.4%	1.4%	0.1%	7.0%	0.1%	0.2%	<0.1d	mixed	$41k	low OI4h/1hspread not incl.	Va Li	calc
BybitCEX	GRVT	0.0%	4.6%	5.2%	7.9%	0.0%	−0.1%	14d	cooling	$218k		By Gr	calc
Variational	Hyperliquid	0.0%	1.9%	2.1%	10.7%	−0.2%	−0.4%	16d	weak	$419k	4h/1hspread not incl.	Va Hy	calc
Lighter	Variational	0.4%	−1.4%	−0.1%	−7.0%	−0.1%	−0.2%	—	weak	$41k	low OI1h/4hspread not incl.	Li Va	calc
BitgetCEX	GRVT	0.0%	4.6%	5.2%	7.9%	−0.3%	−0.5%	15d	cooling	$218k		Bg Gr	calc
Variational	MEXCCEX	0.0%	1.9%	0.6%	2.1%	−0.5%	−0.7%	25d	weak	$419k	spread not incl.	Va Mx	calc
Variational	Extended	0.4%	2.3%	1.0%	2.6%	−0.3%	−0.4%	18d	weak	$34k	low OI4h/1hspread not incl.	Va Ex	calc
Lighter	Hyperliquid	0.4%	0.4%	2.0%	3.7%	−0.4%	−0.6%	17d	weak	$41k	low OI	Li Hy	calc
Lighter	Extended	0.9%	0.9%	0.9%	−4.4%	−0.4%	−0.6%	21d	weak	$34k	low OI	Li Ex	calc
Hyperliquid	GRVT	0.0%	4.6%	3.6%	−0.6%	−1.1%	−1.6%	18d	weak	$218k	1h/4h	Hy Gr	calc
GateCEX	GRVT	0.0%	4.6%	5.2%	7.9%	−1.1%	−1.6%	17d	cooling	$218k		Gt Gr	calc
Lighter	MEXCCEX	0.4%	0.4%	0.4%	−4.9%	−0.6%	−0.9%	34d	weak	$41k	low OI1h/4h	Li Mx	calc
MEXCCEX	Hyperliquid	0.0%	0.0%	1.5%	8.6%	−1.9%	−2.8%	31d	weak	$879k	4h/1h	Mx Hy	calc
Variational	BinanceCEX	0.0%	1.9%	0.6%	2.8%	−2.0%	−3.0%	63d	weak	$419k	spread not incl.	Va Bn	calc
Variational	BybitCEX	0.0%	1.9%	0.6%	2.1%	−2.3%	−3.4%	70d	weak	$419k	spread not incl.	Va By	calc
Variational	BitgetCEX	0.0%	1.9%	0.6%	2.1%	−2.6%	−3.8%	76d	weak	$419k	spread not incl.	Va Bg	calc
Variational	GateCEX	0.0%	1.9%	0.6%	2.1%	−3.3%	−5.0%	96d	weak	$367k	spread not incl.	Va Gt	calc
BinanceCEX	Hyperliquid	0.0%	0.0%	1.5%	9.1%	−3.4%	−5.1%	45d	weak	$2.0M	4h/1h	Bn Hy	calc
BybitCEX	Hyperliquid	0.0%	0.0%	1.5%	8.6%	−3.7%	−5.5%	48d	weak	$2.3M	4h/1h	By Hy	calc
MEXCCEX	Extended	0.4%	0.4%	0.4%	0.4%	−1.9%	−2.9%	75d	weak	$34k	low OI4h/1h	Mx Ex	calc
BitgetCEX	Hyperliquid	0.0%	0.0%	1.5%	8.6%	−3.9%	−5.9%	50d	weak	$967k	4h/1h	Bg Hy	calc
Lighter	BinanceCEX	0.4%	0.4%	0.4%	−3.9%	−2.2%	−3.3%	84d	weak	$41k	low OI1h/4h	Li Bn	calc
GateCEX	Hyperliquid	0.0%	0.0%	1.5%	8.6%	−4.7%	−7.1%	57d	weak	$367k	4h/1h	Gt Hy	calc
Lighter	BybitCEX	0.4%	0.4%	0.4%	−4.9%	−2.4%	−3.7%	93d	weak	$41k	low OI1h/4h	Li By	calc
GateCEX	MEXCCEX	0.0%	0.0%	0.0%	0.0%	−5.0%	−7.4%	>999d	weak	$367k		Gt Mx	calc
Lighter	BitgetCEX	0.4%	0.4%	0.4%	−4.9%	−2.7%	−4.0%	101d	weak	$41k	low OI1h/4h	Li Bg	calc
GateCEX	BinanceCEX	0.0%	0.0%	0.0%	0.0%	−6.5%	−9.8%	>999d	weak	$367k		Gt Bn	calc
GateCEX	BybitCEX	0.0%	0.0%	0.0%	0.0%	−6.8%	−10.2%	>999d	weak	$367k		Gt By	calc
BinanceCEX	Extended	0.4%	0.4%	0.4%	0.5%	−3.5%	−5.2%	125d	weak	$34k	low OI4h/1h	Bn Ex	calc
Lighter	GateCEX	0.4%	0.4%	0.4%	−4.9%	−3.5%	−5.2%	127d	weak	$41k	low OI1h/4h	Li Gt	calc
GateCEX	BitgetCEX	0.0%	0.0%	0.0%	0.0%	−7.0%	−10.6%	>999d	weak	$367k		Gt Bg	calc
BybitCEX	Extended	0.4%	0.4%	0.4%	0.5%	−3.7%	−5.6%	133d	weak	$34k	low OI4h/1h	By Ex	calc
BitgetCEX	Extended	0.4%	0.4%	0.4%	0.5%	−4.0%	−6.0%	142d	weak	$34k	low OI4h/1h	Bg Ex	calc
Hyperliquid	Extended	0.4%	0.4%	−1.1%	−8.1%	−4.7%	−7.1%	—	weak	$34k	low OI	Hy Ex	calc
GateCEX	Extended	0.4%	0.5%	0.4%	0.5%	−4.8%	−7.2%	166d	weak	$34k	low OI4h/1h	Gt Ex	calc
Extended	Hyperliquid	−0.4%	−0.4%	1.1%	8.1%	−2.6%	−3.8%	47d	mixed	$34k	low OI	Ex Hy	calc
GRVT	Extended	0.4%	−4.1%	−4.7%	−7.5%	−8.4%	−12.6%	—	weak	$34k	low OI4h/1h	Gr Ex	calc

What the columns and badges mean

now: Current funding spread APR: short-leg rate minus long-leg rate, annualized.
24h: Average spread APR over the last 24 hours, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet).
7d: Average spread APR over the last 7 days, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet). Used for ranking and net APR.
30d: Average spread APR over the last 30 days, on hours when both venues have data (settled funding, plus predicted rates for hours not settled yet).
7d trend: Spread APR over the last 7 days in 6-hour averages; the dashed line is zero.
Net APR: 7d spread APR minus taker fees to open and close both legs, spread over the holding period: net = spread7d − fees × 365 / days. Per unit of notional per leg.
On capital: Net APR on the capital posted for both legs at this leverage: net × leverage / 2.
Breakeven: Days of 7d-average funding needed to pay back open+close taker fees.
Min OI: Smaller open interest of the two legs, USD.
steady: Steady: prior-week spread at least 5% APR, last 24h positive and no spike, positive now. Not negative in X% of hours over 7 days.
spike: The last 24h spread is far above the prior 6-day average (more than 3×, or above 15% APR after a weak prior) — it may not last.
mixed: The spread was negative too often: not negative in only X% of hours over 7 days.
new: Less than 4 days of shared history in the prior week: stability cannot be judged yet.
weak: Prior-week spread under 5% APR: too small to call steady.
cooling: The prior week was solid, but the last 24h or the current spread is not positive.
≠ asset?: Mark prices differ by N bps — these may be different assets under one ticker, or contracts of a different size (e.g. per 1,000 coins). Verify before trading.
stale: At least one leg has not updated for over 30 minutes.
low OI: Open interest under $50k on at least one leg — size carefully.
8h/1h: Funding intervals differ (8h vs 1h): payments are not simultaneous.
TradFi: Tokenized stock, index or commodity: trading sessions and oracle rules may differ.
invite only: Invite-only venue: an account needs an invite code, so it is not selected by default. Tick it in the venue filter to include it.
spread not incl.: A leg trades on quotes with no fee (Variational): the cost is the market maker's quote spread, which we cannot see, so the net APR is before it. Compare the quote with the mark price before you trade.
CEX: Centralized exchange: trading needs an account with identity verification (KYC).

Prices now

Buy on the row's venue at its ask, sell on the column's venue at its bid; spread before fees.

Indicative · marks from 2026-10-12 04:41 UTC

Live quotes are unavailable right now (last update: never). Shown instead: indicative spreads between mark prices from the funding snapshot. Marks are taken minutes apart and are not prices you can trade at.

Indicative (mark or mid prices): buy on Variational at 0.0485559, sell on Lighter at 0.04892: 0.747% before fees, 0.747% after taker fees.

POPCAT: spread buying on the row's venue and selling on the column's venue
Buy ↓ · Sell →	Lighter0.04892	Gate0.04879	GRVT0.04877	MEXC0.04876	Hyperliquid0.04875	Bybit0.0487	Bitget0.04869	Extended0.0486813	Binance0.04868	Variational0.0485559
Variational0.0485559	0.747%	0.481%	0.440%	0.420%	0.399%	0.296%	0.276%	0.258%	0.255%	—
Binance0.04868	0.492%	0.226%	0.185%	0.164%	0.144%	0.041%	0.021%	0.003%	—	−0.255%
Extended0.0486813	0.489%	0.223%	0.182%	0.161%	0.141%	0.038%	0.018%	—	−0.003%	−0.258%
Bitget0.04869	0.471%	0.205%	0.164%	0.144%	0.123%	0.021%	—	−0.018%	−0.021%	−0.276%
Bybit0.0487	0.451%	0.185%	0.144%	0.123%	0.103%	—	−0.021%	−0.038%	−0.041%	−0.296%
Hyperliquid0.04875	0.348%	0.082%	0.041%	0.021%	—	−0.103%	−0.123%	−0.141%	−0.144%	−0.399%
MEXC0.04876	0.328%	0.062%	0.021%	—	−0.021%	−0.123%	−0.144%	−0.161%	−0.164%	−0.420%
GRVT0.04877	0.307%	0.041%	—	−0.021%	−0.041%	−0.144%	−0.164%	−0.182%	−0.185%	−0.440%
Gate0.04879	0.266%	—	−0.041%	−0.062%	−0.082%	−0.185%	−0.205%	−0.223%	−0.226%	−0.481%
Lighter0.04892	—	−0.266%	−0.307%	−0.328%	−0.348%	−0.451%	−0.471%	−0.489%	−0.492%	−0.747%

All quotes (10)

Venue	Bid	Ask	Quality	Age	Vol 24h	Flags
BinanceCEX	0.04868	0.04868	mark	8m	$984k	no FX
BitgetCEX	0.04869	0.04869	mark	8m	$78k	no FX
BybitCEX	0.0487	0.0487	mark	8m	$1.1M	no FX
Extended	0.0486813	0.0486813	mark	9m	$177k
GateCEX	0.04879	0.04879	mark	8m	$38k	no FX
GRVT	0.04877	0.04877	mark	9m	$425k	no FX
Hyperliquid	0.04875	0.04875	mark	9m	$124k
Lighter	0.04892	0.04892	mark	9m	$14k
MEXCCEX	0.04876	0.04876	mark	9m	$258k	no FX
Variational	0.0485559	0.0485559	mark	9m	$50k

All spreads → · Hatched cells use a mark or mid price, a flagged venue or one outside the default selection.

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