Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Aster against Binance+0.125%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$760.757% of the position

Long on Binance Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 7 days−0.038%−$4 · spread now +0.125%, 7d avg +0.068%

Together, before fees−0.017%+ Points / potential airdropAster: Stage 5 · farm board−$2 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: Aster is 0.057% dearer against Binance than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CAKEUSDT	2.5544	0.0100	pay 0.0050% / 4h	37m 06s	$18.3M	$36.2M	75x
Short	Aster CAKEUSDT	2.5576	0.0100	get 0.0050% / 4h	37m 06s	$2.4M	$80K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Binance. 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 BinancebpFee AsterbpOrdersPrice spread, now +0.125%Rate

Funding earned: $0
Price spread: +0.125% → +0.068%: $5.72
Slippage, 4 orders: −$57.68
Fee Binance: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$69.96
Costs to cover: 0.757%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; Aster: live order book, 1 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 Binance live order book, 5 min ago	0.20 bp	11.8 bp −$12	29.9 bp −$299	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	4.70 bp	18.4 bp −$18	1674.7 bp −$16.7K	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 CAKEUSDT	−0.0016%	1h	2.5559	+0.059%	$13K	$698K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0026%	4h	2.5551	+0.027%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.407%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0081%	4h	2.5544	0.000%	$1.0M	$364K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5588	+0.172%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDTshort	+0.0100%	4h	2.5576	+0.125%	$2.4M	$80K	10x
Binance CAKEUSDTlong	+0.0100%	4h	2.5544	long leg	$18.3M	$36.2M	75x
Bybit CAKEUSDT	+0.0100%	4h	2.5536	−0.031%	$5.3M	$3.9M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5544	0.000%	$892K	$753K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5539	−0.020%	$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	2.5565	+0.082%	$2.5M	$5.6M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5558	+0.055%	$2.7M	$2.7M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5549	+0.020%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5557	+0.050%	$537K	$480K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5568	+0.093%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0750%	1h	2.5608	+0.252%	$55K	$39K	10x	as long as short