Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: Binance against ApeX Omni+0.016%79s7-day average −0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$500.497% of the position

Long on ApeX Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.151%+$15 on $10k

Price spread, last 4 days (all we have)−0.451%−$45 · spread now +0.016%, 7d avg −0.042%

Together, before fees−0.300%−$30 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 0.058% dearer against ApeX Omni than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.042%. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CAKEUSDT	2.5152	0.0100	pay 0.0013% / 1h	8m 12s	$11K	$683K	50x
Short	Binance CAKEUSDT	2.5156	0.0100	get 0.0050% / 4h	2h 08m	$17.9M	$33.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against ApeX Omni. 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 ApeX OmnibpFee BinancebpOrdersPrice spread, now +0.016%Rate

Funding earned: $0
Price spread: +0.016% → −0.042%: $5.84
Slippage, 4 orders: −$29.7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$43.86
Costs to cover: 0.497%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 60 min ago; Binance: live order book, 3 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 ApeX Omni live order book, 60 min ago	5.90 bp	13.5 bp −$13	102.4 bp −$1,024	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	1.19 bp	11.8 bp −$12	28.5 bp −$285	119.3 bp −$11.9K	doesn't fit

CAKE on 15 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
Orderly PERP_CAKE_USDC	+0.0013%	4h	2.5154	+0.008%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.145%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5177	+0.099%	$3.1M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5153	+0.005%	$2.4M	$76K	10x	as long as short
Binance CAKEUSDTshort	+0.0100%	4h	2.5156	+0.016%	$17.9M	$33.7M	75x
Bybit CAKEUSDT	+0.0100%	4h	2.5150	−0.008%	$5.3M	$3.7M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5132	−0.080%	$876K	$673K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5159	+0.028%	$13.7M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5145	−0.028%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5165	+0.052%	$2.6M	$2.5M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5145	−0.028%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5131	−0.085%	$533K	$460K	—	as long as short
ApeX Omni CAKEUSDTlong	+0.0100%	1h	2.5152	long leg	$11K	$683K	50x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5166	+0.057%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0832%	1h	2.5177	+0.100%	$54K	$37K	10x	as long as short