Settings8H · net · $10k
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Funding arb · Price arb / Crypto

COW

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LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
Binance SpotCOWUSDT
0.1110spotno funding——$458K1xBuy Binance Spot
SHORT
BinanceCOWUSDT
0.1109+0.0026get 0.0013% / 4h1h 05m$1.6M$2.5M50xShort Binance
Price gap−0.102%
Funding gap+0.0026% /8h

Both sides work: funding pays +$1 a day on $10k, and the gap is 0.289% above its 7d average: +$29 more if it goes back.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding−$335+0.0026% /8h now · paid −3.345% over the last 7D
Price+$29spread −0.102% now, avg −0.391% → +0.289% if it goes back
Costs−$1251.255% of $10k · taker + slippage, in and out
Result−$431−4.31%no points

Price and funding

1h · history
PRICE SPREAD · 7D
Now−0.102%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

COW on 10 exchanges

lowest funding first

Before you open

2 ok · 2 to watch
  • Watch: Thin at this size41.8 / 19.4 bp
    At $10k entering Binance Spot costs 41.8 bp, fee and slippage, 2.2× Binance’s.
  • Note: Spot in full, margin on the short$10,000 + $200
    The spot leg is bought with the whole $10k; Binance runs at up to 50x. Only the short can be liquidated, when the price rises, while the spot leg's gain is not yet realised: keep about 2× the margin on Binance.
  • OK: Only the short pays funding— / 4h
    The spot leg pays no funding; Binance settles every 4h.
    Next 24h at the current rates, on $10k a leg: +$0.78Long Binance Spot: 0 payments, $0.00; short Binance: 6 payments, +$0.78.
  • OK: Entry gap works for you−0.102% vs −0.391%
    You short the dearer leg. If the gap goes back to average, the short gains.
  • Note: Spot has no open interest$1.6M OI
    Only Binance reports one; the spot book's depth is in the cost check above.
  • Note: No points program—
    Neither exchange runs points right now.
  • Watch: KYCBinance Spot Yes · Binance Yes
    Verified KYC to deposit or trade.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned−0.1593%/8h × 21 periods−$334.54
Price spread−0.102% → −0.391% (7d avg)+$28.85
Slippage, 4 orderslive order books−$95.45
Fee Binance Spot bp × 2 orders−$20.00
Fee Binance bp × 2 orders−$10.00
Net · 7 days · $10k−$431.13
Costs to cover1.255%Break-evennever at this rate
Slippage: Binance Spot: live order book, 38 min ago; Binance: live order book, 3 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGBinance Spot4.4941.8 bp−$421836.7 bp−$18.4Kdoesn’t fitdoesn’t fit
SELL · SHORTBinance4.5119.4 bp−$1968.0 bp−$680doesn’t fitdoesn’t fit

Closing costs about the same again.

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