Funding arb · Price arb /

COOKIE

all COOKIE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.038%

Price spread now: Binance against Bitget+0.153%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$347as in the Funding arb table

Net, price: spread back to 7d avg − costs−$356as in the Price arb table

costs, in and out, $10k−$3693.693% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.226%+$23 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now +0.153%, 7d avg +0.022%

Together, before fees+0.131%+$13 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: Binance is 0.132% dearer against Bitget than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget COOKIEUSDT	0.01259	0.0100	pay 0.0050% / 4h	57m 34s	$365K	$281K	5x
Short	Binance COOKIEUSDT	0.01261	0.0100	get 0.0050% / 4h	57m 34s	$2.1M	$8.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now +0.153%Rate

Funding earned: $0
Price spread: +0.153% → +0.022%: $13.18
Slippage, 4 orders: −$347.31
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$356.14
Costs to cover: 3.693%
Break-even: never at this rate

Slippage from Bitget: live order book, 58 min ago; Binance: live order book, 12 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 Bitget live order book, 58 min ago	11.56 bp	140.2 bp −$140	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	4.78 bp	50.8 bp −$51	314.9 bp −$3,149	doesn't fit	doesn't fit

COOKIE on 9 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
Kraken Futures PF_COOKIEUSD	−0.0478%	1h	0.01266	+0.566%	$10K	$37K	10x	as long as short
Binance COOKIEUSDTshort	+0.0100%	4h	0.01261	+0.153%	$2.1M	$8.0M	20x
Bybit COOKIEUSDT	+0.0100%	4h	0.01261	+0.135%	$861K	$1.2M	25x	as long as short
Gate COOKIE_USDT	+0.0100%	4h	0.01259	0.000%	$126K	$191K	25x	as long as short
MEXC COOKIE_USDT	+0.0100%	4h	0.01259	0.000%	$625K	$322K	100x	as long as short
KuCoin COOKIEUSDTM	+0.0100%	4h	0.01261	+0.159%	$225K	$132K	20x	as long as short
Bitget COOKIEUSDTlong	+0.0100%	4h	0.01259	long leg	$365K	$281K	5x
BingX COOKIE-USDT	+0.0100%	4h	0.01260	+0.064%	—	$6.5M	—	as long as short
Variational Omni COOKIE	+0.0100%	4h	0.01253	−0.457%	$15K	$15K	—	as long as short