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 +0.002%

Price spread now: Gate against KuCoin+0.080%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,306as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,299as in the Price arb table

costs, in and out, $10k−$1,30713.070% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.104%−$10 · spread now +0.080%, 7d avg −0.001%

Together, before fees−0.097%−$10 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: Gate is 0.081% dearer against KuCoin than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin COOKIEUSDTM	0.01254	0.0100	pay 0.0050% / 4h	2h 41m	$225K	$161K	20x
Short	Gate COOKIE_USDT	0.01255	0.0100	get 0.0050% / 4h	2h 41m	$126K	$232K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.080%Rate

Funding earned: $0
Price spread: +0.080% → −0.001%: $8.08
Slippage, 4 orders: −$1,279.96
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1,298.88
Costs to cover: 13.070%
Break-even: never at this rate

Slippage from KuCoin: live order book, 14 min ago; Gate: live order book, 65 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, 14 min ago	15.70 bp	393.4 bp −$393	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 65 min ago	12.08 bp	151.3 bp −$151	doesn't fit	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	0.01258	+0.306%	$2.1M	$9.5M	20x	as long as short
Bybit COOKIEUSDT	+0.0100%	4h	0.01257	+0.215%	$869K	$1.5M	25x	as long as short
Gate COOKIE_USDTshort	+0.0100%	4h	0.01255	+0.080%	$126K	$232K	25x
MEXC COOKIE_USDT	+0.0100%	4h	0.01258	+0.319%	$642K	$365K	100x	as long as short
KuCoin COOKIEUSDTMlong	+0.0100%	4h	0.01254	long leg	$225K	$161K	20x
Bitget COOKIEUSDT	+0.0100%	4h	0.01258	+0.319%	$364K	$310K	5x	as long as short
BingX COOKIE-USDT	+0.0100%	4h	0.01259	+0.367%	—	$6.5M	—	as long as short
Variational Omni COOKIE	+0.0100%	4h	0.01263	+0.744%	$12K	$20K	—	as long as short
Kraken Futures PF_COOKIEUSD	+0.0436%	1h	0.01255	+0.047%	$12K	$40K	10x	as long as short