COW funding rates and arbitrage

COW perpetuals trade on 10 contracts across 10 venues, forming 45 cross-venue arbitrage pairs. By net APR the current best pair is long Coinbase against short Binance, netting +134.47%, though note the legs settle on different cadences (1h / 4h)。

COW perpetual funding rates by venue

APR = current rate × (24 ÷ settlement interval) × 365. Venues settle on different cadences, so rates must be annualised before comparing.

Venue	Contract	Margin	Settlement	Current rate	APR	24h avg APR	24h volume	Mark
BingX	COW-USDT	USDT	4h	0.0035%	+7.66%	+7.32%	$6.5M	0.12850
Binance	COWUSDT	USDT	4h	0.0050%	+10.95%	+10.95%	$576K	0.12825
LBank	COWUSDT	USDT	4h	0.0050%	+10.95%	+10.95%	$389K	0.12830
Bybit	COWUSDT	USDT	4h	0.0050%	+10.95%	+10.95%	$176K	0.12843
MEXC	COW_USDT	USDT	4h	0.0050%	+10.95%	+10.95%	$119K	0.12820
Bitget	COWUSDT	USDT	4h	0.0050%	+10.95%	+10.40%	$24K	0.12830
KuCoin	COWUSDTM	USDT	4h	-0.0255%	-55.84%	-24.25%	$21K	0.12830
Gate	COW_USDT	USDT	4h	0.0050%	+10.95%	+3.86%	$7K	0.12860
Aster	COWUSDT	USDT	4h	-0.0054%	-11.87%	-11.78%	$1K	0.12850
Coinbase	COW-PERP	USDC	1h	-0.0141%	-123.52%	-123.52%	$52	0.24464

COW cross-venue arbitrage pairs

Short the higher-APR leg and go long the lower one; net APR = short leg − long leg.

Long	Short	Net APR	Daily	24h avg	Settlement	Liquidity
Coinbase USDC	Binance USDT	+134.47%	0.3684%	+134.47%	1h / 4h	$52
Coinbase USDC	Bitget USDT	+134.47%	0.3684%	+133.92%	1h / 4h	$52
Coinbase USDC	Bybit USDT	+134.47%	0.3684%	+134.47%	1h / 4h	$52
Coinbase USDC	Gate USDT	+134.47%	0.3684%	+127.38%	1h / 4h	$52
Coinbase USDC	LBank USDT	+134.47%	0.3684%	+134.47%	1h / 4h	$52
Coinbase USDC	MEXC USDT	+134.47%	0.3684%	+134.47%	1h / 4h	$52
Coinbase USDC	BingX USDT	+131.18%	0.3594%	+130.84%	1h / 4h	$52
Coinbase USDC	Aster USDT	+111.65%	0.3059%	+111.74%	1h / 4h	$52
Coinbase USDC	KuCoin USDT	+67.67%	0.1854%	+99.27%	1h / 4h	$52
KuCoin USDT	Binance USDT	+66.80%	0.1830%	+35.20%	4h matched	$21K
KuCoin USDT	Bitget USDT	+66.80%	0.1830%	+34.65%	4h matched	$21K
KuCoin USDT	Bybit USDT	+66.80%	0.1830%	+35.20%	4h matched	$21K

CoW Protocol project profile

Website X (Twitter)Telegram

Key facts

Total: 1.00B
Max supply: 1.00B
Type: Token
Market cap rank: #337

MemeBase EcosystemBase Meme

Contract addresses

base0x2ad3d80c917ddbf08acc04277f379e00e4d75395

Block explorers

basescan.org intel.arkm.com

About

CrashiusClay69 created a meme, and this project is the tokenization of that meme. I'm the COW of meme coins. Certified Objective Winner. Cows are incredible because they give us 2 of the best foods on the planet: milk and steak. Which means I love Cows. This means I like myself since I’m a cow 🐄 The cash cow of crypto. A meme born from Crash, developed by the community. This project is run by a community team.

Reference data from CoinGecko, independent of the rate data on this site. We do not verify or endorse what these links contain.

Funding rates for other coins

CRM+19.8%CXMT+189.2%CYBER0.0%DOS+19.5%DRIFT+195.8%EWT+18.1%F+15.9%FOLKS+83.7%GAS+14.0%GOAT+132.6%GPRO+531.4%GRIFFAIN0.0%

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