Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h −0.013%

Price spread now: ApeX Omni against Aster−0.151%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$770.770% of the position

Long on Aster Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.167%−$17 on $10k

Price spread, last 4 days (all we have)+0.235%+$24 · spread now −0.151%, 7d avg −0.042%

Together, before fees+0.069%+ Points / potential airdropAster: Stage 5 · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and ApeX Omni is 0.109% cheaper against Aster than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.042%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CAKEUSDT	2.5130	0.0100	pay 0.0050% / 4h	31m 10s	$2.4M	$79K	10x
Short	ApeX Omni CAKEUSDT	2.5092	−0.0003	pay 0.0000% / 1h	31m 10s	$11K	$678K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Aster. 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 AsterbpFee ApeX OmnibpOrdersPrice spread, now −0.151%Rate

Funding earned: −$21.71
Price spread: −0.151% → −0.042%: −$10.95
Slippage, 4 orders: −$59.03
Fee Aster: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$109.68
Costs to cover: 0.770%
Break-even: never at this rate

Slippage from Aster: live order book, 2 min ago; ApeX Omni: live order book, 27 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 Aster live order book, 2 min ago	1.20 bp	30.7 bp −$31	1117.2 bp −$11.2K	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 27 min ago	7.17 bp	14.6 bp −$15	104.8 bp −$1,048	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
ApeX Omni CAKEUSDTshort	−0.0003%	1h	2.5092	−0.151%	$11K	$678K	50x
Orderly PERP_CAKE_USDC	+0.0017%	4h	2.5113	−0.068%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.234%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5155	+0.100%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDTlong	+0.0100%	4h	2.5130	long leg	$2.4M	$79K	10x
Binance CAKEUSDT	+0.0100%	4h	2.5120	−0.038%	$17.9M	$31.2M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5100	−0.119%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5121	−0.036%	$875K	$642K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5112	−0.072%	$13.4M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5125	−0.020%	$2.4M	$5.4M	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	2.5139	+0.036%	$2.6M	$2.3M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5100	−0.119%	—	$3.8M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.4966	−0.654%	$518K	$469K	—	as long as short
BloFin CAKE-USDT	+0.0134%	4h	2.5098	−0.127%	$998K	$367K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5137	+0.027%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0748%	1h	2.5131	+0.004%	$53K	$38K	10x	as long as short