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 +0.055%

Price spread now: Bybit against KuCoin+0.241%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,224as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,196as in the Price arb table

costs, in and out, $10k−$1,21712.171% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 4 days (all we have)−0.291%−$29 · spread now +0.241%, 7d avg +0.030%

Together, before fees−0.358%−$36 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: Bybit is 0.211% dearer against KuCoin than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin COOKIEUSDTM	0.01246	0.0100	pay 0.0050% / 4h	2h 40m	$224K	$161K	20x
Short	Bybit COOKIEUSDT	0.01249	0.0100	get 0.0050% / 4h	2h 40m	$868K	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now +0.241%Rate

Funding earned: $0
Price spread: +0.241% → +0.030%: $21.12
Slippage, 4 orders: −$1,194.07
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1,195.96
Costs to cover: 12.171%
Break-even: never at this rate

Slippage from KuCoin: live order book, 16 min ago; Bybit: live order book, 1 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 KuCoin live order book, 16 min ago	15.70 bp	393.4 bp −$393	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	7.52 bp	165.4 bp −$165	418.2 bp −$4,182	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
Binance COOKIEUSDT	+0.0100%	4h	0.01243	−0.218%	$2.1M	$9.6M	20x	as long as short
Bybit COOKIEUSDTshort	+0.0100%	4h	0.01249	+0.241%	$868K	$1.5M	25x
Gate COOKIE_USDT	+0.0100%	4h	0.01249	+0.241%	$124K	$232K	25x	as long as short
MEXC COOKIE_USDT	+0.0100%	4h	0.01249	+0.241%	$634K	$366K	100x	as long as short
KuCoin COOKIEUSDTMlong	+0.0100%	4h	0.01246	long leg	$224K	$161K	20x
Bitget COOKIEUSDT	+0.0100%	4h	0.01250	+0.321%	$362K	$310K	5x	as long as short
BingX COOKIE-USDT	+0.0100%	4h	0.01250	+0.329%	—	$6.6M	—	as long as short
Variational Omni COOKIE	+0.0100%	4h	0.01259	+1.059%	$12K	$20K	—	as long as short
Kraken Futures PF_COOKIEUSD	+0.0439%	1h	0.01248	+0.123%	$12K	$40K	10x	as long as short