Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0111%/8h= +12.2% APRpaid last 24h +0.001%

Price spread now: Orderly against ApeX Omni−0.118%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on ApeX Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 0.118% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.118% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 3.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CAKEUSDT	2.5504	−0.0090	get 0.0011% / 1h	7m 24s	$13K	$696K	50x
Short	Orderly PERP_CAKE_USDC	2.5474	0.0021	get 0.0010% / 4h	7m 24s	$7K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.118%Rate

Funding earned: $23.33
Price spread: −0.118% → 0.000%: −$11.76
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$4.44
Costs to cover: 0.160%
Break-even: 8.3 days

Slippage unknown: ApeX Omni: live order book, 6 min ago; Orderly: no order-book sample. Net counts fees only.

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, 6 min ago	5.88 bp	14.4 bp −$14	116.6 bp −$1,166	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
ApeX Omni CAKEUSDTlong	−0.0090%	1h	2.5504	long leg	$13K	$696K	50x
Orderly PERP_CAKE_USDCshort	+0.0021%	4h	2.5474	−0.118%	$7K	$14K	10x
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.251%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0046%	4h	2.5500	−0.016%	$1.0M	$363K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5506	+0.008%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5499	−0.018%	$2.4M	$78K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5475	−0.114%	$18.3M	$35.9M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5460	−0.173%	$5.3M	$3.9M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5471	−0.129%	$889K	$755K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5477	−0.106%	$14.2M	$2.8M	125x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin CAKEUSDTM	+0.0100%	4h	2.5480	−0.094%	$2.5M	$5.6M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5493	−0.043%	$2.7M	$2.6M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5479	−0.098%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5481	−0.089%	$535K	$469K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5489	−0.060%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0750%	1h	2.5590	+0.337%	$55K	$39K	10x	as long as short