Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.023%

Price spread now: Injective against Aster+1.027%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Injective is 1.027% dearer against Aster than usual: you sell high and buy low (spread +1.027% now, against zero (this spread has no 7-day history yet)): +$103 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 51 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CAKEUSDT	2.5181	0.0100	pay 0.0050% / 4h	2h 10m	$2.4M	$76K	10x
Short	Injective CAKE/USDC PERP	2.5440	0.0033	get 0.0004% / 1h	10m 56s	$113	$52K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.027%Rate

Funding earned: −$14
Price spread: +1.027% → 0.000%: $102.71
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $80.69
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Aster: live order book, 2 min ago; Injective: 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 Aster live order book, 2 min ago	3.78 bp	32.6 bp −$33	1218.4 bp −$12.2K	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 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	−0.109%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERPshort	+0.0033%	1h	2.5440	+1.027%	$113	$52K	5.5x
Hyperliquid CAKE	+0.0100%	1h	2.5179	−0.009%	$3.1M	$2.6M	3x	as long as short
Aster CAKEUSDTlong	+0.0100%	4h	2.5181	long leg	$2.4M	$76K	10x
Binance CAKEUSDT	+0.0100%	4h	2.5153	−0.112%	$17.9M	$33.8M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5138	−0.172%	$5.3M	$3.7M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5136	−0.180%	$876K	$673K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5155	−0.105%	$13.7M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5152	−0.117%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5166	−0.061%	$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	2.5150	−0.125%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5131	−0.202%	$533K	$460K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5159	−0.089%	$11K	$683K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5158	−0.095%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0833%	1h	2.5162	−0.078%	$54K	$37K	10x	as long as short