Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0003%/8h= −0.4% APRpaid last 24h +0.016%

Price spread now: BloFin against ApeX Omni−0.016%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$490.495% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.293%+$29 on $10k

Price spread, last 3 days (all we have)−0.144%−$14 · spread now −0.016%, 7d avg −0.043%

Together, before fees+0.150%+$15 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: BloFin is 0.027% dearer against ApeX Omni than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CAKEUSDT	2.5494	0.0100	pay 0.0013% / 1h	40m 34s	$11K	$697K	50x
Short	BloFin CAKE-USDT	2.5490	0.0097	get 0.0048% / 4h	3h 40m	$994K	$363K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$0.68
Price spread: −0.016% → −0.043%: $2.72
Slippage, 4 orders: −$27.47
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$47.43
Costs to cover: 0.495%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 33 min ago; BloFin: live order book, 26 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, 33 min ago	5.88 bp	14.4 bp −$14	116.6 bp −$1,166	doesn't fit	doesn't fit
Sell BloFin live order book, 26 min ago	0.79 bp	8.7 bp −$9	18.6 bp −$186	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	+0.0024%	4h	2.5492	−0.008%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.212%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDTshort	+0.0097%	4h	2.5490	−0.016%	$994K	$363K	75x
Hyperliquid CAKE	+0.0100%	1h	2.5530	+0.141%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5501	+0.026%	$2.4M	$78K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5498	+0.016%	$18.3M	$35.6M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5470	−0.094%	$5.3M	$3.9M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5485	−0.035%	$893K	$681K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5488	−0.024%	$14.2M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5497	+0.012%	$2.5M	$5.5M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDT	+0.0100%	4h	2.5518	+0.094%	$2.7M	$2.6M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5495	+0.004%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5461	−0.129%	$535K	$469K	—	as long as short
ApeX Omni CAKEUSDTlong	+0.0100%	1h	2.5494	long leg	$11K	$697K	50x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5499	+0.022%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0708%	1h	2.5527	+0.128%	$55K	$37K	10x	as long as short