Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Binance−0.057%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$950.947% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.057%, 7d avg −0.010%

Together, before fees+0.026%+$3 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: Gate is 0.047% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CAKEUSDT	2.5153	0.0100	pay 0.0050% / 4h	2h 11m	$18.0M	$33.9M	75x
Short	Gate CAKE_USDT	2.5139	0.0100	get 0.0050% / 4h	2h 11m	$877K	$673K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.057%Rate

Funding earned: $0
Price spread: −0.057% → −0.010%: −$4.69
Slippage, 4 orders: −$69.73
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$99.42
Costs to cover: 0.947%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Gate: live order book, 55 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, 15 min ago	0.20 bp	10.0 bp −$10	26.1 bp −$261	doesn't fit	doesn't fit
Sell Gate live order book, 55 min ago	2.36 bp	39.7 bp −$40	80.3 bp −$803	doesn't fit	doesn't fit

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	2.5156	+0.011%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.140%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5175	+0.086%	$3.1M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5169	+0.062%	$2.4M	$76K	10x	as long as short
Binance CAKEUSDTlong	+0.0100%	4h	2.5153	long leg	$18.0M	$33.9M	75x
Bybit CAKEUSDT	+0.0100%	4h	2.5140	−0.053%	$5.3M	$3.7M	50x	as long as short
Gate CAKE_USDTshort	+0.0100%	4h	2.5139	−0.057%	$877K	$673K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5159	+0.022%	$13.7M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5162	+0.034%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5166	+0.050%	$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	2.5145	−0.033%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5110	−0.171%	$535K	$458K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5134	−0.077%	$11K	$683K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5168	+0.057%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0833%	1h	2.5161	+0.032%	$54K	$37K	10x	as long as short