Funding arb · Price arb /

COOKIE

all COOKIE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.074%

Price spread now: BingX against Gate+0.032%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$373as in the Funding arb table

Net, price: spread back to 7d avg − costs−$414as in the Price arb table

costs, in and out, $10k−$4104.096% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.365%+$36 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now +0.032%, 7d avg +0.074%

Together, before fees+0.399%+$40 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: BingX is 0.042% cheaper against Gate than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate COOKIE_USDT	0.01244	0.0100	pay 0.0050% / 4h	2h 32m	$124K	$234K	25x
Short	BingX COOKIE-USDT	0.01244	0.0100	get 0.0050% / 4h	2h 32m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now +0.032%Rate

Funding earned: $0
Price spread: +0.032% → +0.074%: −$4.19
Slippage, 4 orders: −$384.55
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$413.75
Costs to cover: 4.096%
Break-even: never at this rate

Slippage from Gate: live order book, 9 min ago; BingX: live order book, 4 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 Gate live order book, 9 min ago	11.91 bp	161.5 bp −$161	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	6.47 bp	32.8 bp −$33	208.6 bp −$2,086	451.5 bp −$45.1K	619.6 bp −$309.8K

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
Binance COOKIEUSDT	+0.0100%	4h	0.01245	+0.096%	$2.1M	$9.6M	20x	as long as short
Bybit COOKIEUSDT	+0.0100%	4h	0.01242	−0.153%	$862K	$1.5M	25x	as long as short
Gate COOKIE_USDTlong	+0.0100%	4h	0.01244	long leg	$124K	$234K	25x
MEXC COOKIE_USDT	+0.0100%	4h	0.01246	+0.161%	$620K	$368K	100x	as long as short
KuCoin COOKIEUSDTM	+0.0100%	4h	0.01243	−0.080%	$228K	$162K	20x	as long as short
Bitget COOKIEUSDT	+0.0100%	4h	0.01247	+0.241%	$361K	$311K	5x	as long as short
BingX COOKIE-USDTshort	+0.0100%	4h	0.01244	+0.032%	—	$6.5M	—
Variational Omni COOKIE	+0.0100%	4h	0.01234	−0.807%	$12K	$21K	—	as long as short
Kraken Futures PF_COOKIEUSD	+0.0439%	1h	0.01248	+0.306%	$12K	$40K	10x	as long as short