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 −0.003%

Price spread now: Binance against MEXC−0.116%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1091.091% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.164%+$16 · spread now −0.116%, 7d avg +0.008%

Together, before fees+0.162%+$16 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 0.124% cheaper against MEXC than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC COOKIE_USDT	0.01289	0.0100	pay 0.0050% / 4h	1h 43m	$661K	$379K	100x
Short	Binance COOKIEUSDT	0.01288	0.0100	get 0.0050% / 4h	1h 43m	$2.2M	$9.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against MEXC. 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 MEXCbpFee BinancebpOrdersPrice spread, now −0.116%Rate

Funding earned: $0
Price spread: −0.116% → +0.008%: −$12.39
Slippage, 4 orders: −$95.09
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$121.48
Costs to cover: 1.091%
Break-even: never at this rate

Slippage from MEXC: live order book, 57 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 MEXC live order book, 57 min ago	12.01 bp	17.7 bp −$18	136.4 bp −$1,364	518.3 bp −$51.8K	doesn't fit
Sell Binance live order book, 12 min ago	1.58 bp	40.7 bp −$41	247.2 bp −$2,472	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 COOKIEUSDTshort	+0.0100%	4h	0.01288	−0.116%	$2.2M	$9.9M	20x
Bybit COOKIEUSDT	+0.0100%	4h	0.01289	−0.031%	$888K	$1.6M	25x	as long as short
Gate COOKIE_USDT	+0.0100%	4h	0.01285	−0.310%	$132K	$241K	25x	as long as short
MEXC COOKIE_USDTlong	+0.0100%	4h	0.01289	long leg	$661K	$379K	100x
KuCoin COOKIEUSDTM	+0.0100%	4h	0.01285	−0.310%	$234K	$165K	20x	as long as short
Variational Omni COOKIE	+0.0100%	4h	0.01278	−0.851%	$13K	$20K	—	as long as short
Bitget COOKIEUSDT	+0.0118%	4h	0.01290	+0.078%	$369K	$326K	5x	as long as short
BingX COOKIE-USDT	+0.0124%	4h	0.01288	−0.101%	—	$6.5M	—	as long as short
Kraken Futures PF_COOKIEUSD	+0.0990%	1h	0.01290	+0.092%	$15K	$48K	10x	as long as short