Here's my Nalgene bottle with the Brunton compass top. I've wrapped it with 37 feet of paracord using the common whipping method. If you keep it tight as you wrap, you won't have a problem with it slipping off, or wrap it with extreme tape first.
I believe it will hold 50 feet of paracord, but I just used what I had laying around. It can be removed in just a few seconds for quick use by pulling the bottom cord loose from the inner loop. If you wanted to get fancy with it, you could tie a turks head knot with many options of leads/bights to a pattern of your own choosing.