POPCAT arbitrage explained
Right now Popcat (POPCAT) trades on 9 venues we scan: 9 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on Bitget perp at $0.0497 and the highest bid on Variational perp at $0.0515.
The widest POPCAT perpetual spread is between Bitget and Variational: long POPCAT on Bitget at $0.0497 and short on Variational at $0.0515 for +3.60% gross, or +3.44% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.000% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best POPCAT route is to buy spot on Bybit and short the perpetual on Variational: +3.13% gross, +2.93% net, with +0.030% a day of funding on the short leg.
Spot–spot POPCAT arbitrage (buy on MEXC, withdraw, deposit and sell on Bybit) shows -0.24% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small POPCAT gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: POPCAT funding rates · POPCAT spread charts · Popcat price · arbitrage scanner for all coins.