Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0398%/8h= +43.5% APRpaid last 24h +0.274%

Price spread now: Kraken Futures against Aster+0.096%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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.631%+$63 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

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Kraken Futures is 0.096% dearer against Aster than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CAKEUSDT	2.5451	0.0100	pay 0.0050% / 4h	2h 38m	$2.4M	$99K	10x
Short	Kraken Futures PF_CAKEUSD	2.5476	0.0498	get 0.0062% / 1h	38m 47s	$56K	$38K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.096%Rate

Funding earned: $83.5
Price spread: +0.096% → 0.000%: $9.57
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $75.07
Costs to cover: 0.180%
Break-even: 0.7 days

Slippage unknown: Aster: live order book, 5 min ago; Kraken Futures: 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, 5 min ago	4.12 bp	29.4 bp −$29	1327.9 bp −$13.3K	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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
Orderly PERP_CAKE_USDC	+0.0007%	4h	2.5435	−0.063%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.044%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0048%	4h	2.5450	−0.004%	$992K	$351K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5460	+0.035%	$3.1M	$3.3M	3x	as long as short
Aster CAKEUSDTlong	+0.0100%	4h	2.5451	long leg	$2.4M	$99K	10x
Binance CAKEUSDT	+0.0100%	4h	2.5434	−0.067%	$18.2M	$39.0M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5420	−0.122%	$5.3M	$4.1M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5436	−0.060%	$886K	$858K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5433	−0.071%	$14.2M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5442	−0.036%	$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 CAKEUSDT	+0.0100%	4h	2.5439	−0.048%	$2.7M	$2.9M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5422	−0.115%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5450	−0.004%	$544K	$497K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5455	+0.015%	$13K	$695K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5441	−0.039%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSDshort	+0.0498%	1h	2.5476	+0.096%	$56K	$38K	10x