Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: Bitget against ApeX Omni−0.133%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$610.607% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$11 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now −0.133%, 7d avg −0.024%

Together, before fees+0.085%+$8 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: Bitget is 0.110% cheaper against ApeX Omni than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CAKEUSDT	2.5543	0.0100	pay 0.0013% / 1h	13m 31s	$13K	$697K	50x
Short	Bitget CAKEUSDT	2.5509	0.0100	get 0.0050% / 4h	2h 13m	$2.7M	$2.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.133%Rate

Funding earned: $0
Price spread: −0.133% → −0.024%: −$10.96
Slippage, 4 orders: −$38.74
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$71.7
Costs to cover: 0.607%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 10 min ago; Bitget: live order book, 4 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, 10 min ago	6.06 bp	13.8 bp −$14	84.0 bp −$840	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.74 bp	10.9 bp −$11	24.4 bp −$244	doesn't fit	doesn't fit

CAKE on 16 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	+0.0014%	4h	2.5533	−0.039%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.403%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0081%	4h	2.5543	0.000%	$997K	$356K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5530	−0.051%	$3.2M	$3.3M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5546	+0.012%	$2.4M	$90K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5524	−0.074%	$18.3M	$38.6M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5500	−0.168%	$5.3M	$4.1M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5516	−0.106%	$890K	$861K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5528	−0.059%	$14.2M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5542	−0.004%	$2.5M	$5.7M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDTshort	+0.0100%	4h	2.5509	−0.133%	$2.7M	$2.8M	75x
BingX CAKE-USDT	+0.0100%	4h	2.5528	−0.059%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5534	−0.036%	$546K	$497K	—	as long as short
ApeX Omni CAKEUSDTlong	+0.0100%	1h	2.5543	long leg	$13K	$697K	50x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5539	−0.014%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0495%	1h	2.5591	+0.186%	$57K	$38K	10x	as long as short