Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0614%/8h= +67.2% APRpaid last 24h +0.189%

Price spread now: Kraken Futures against Binance+0.010%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.779%+$78 on $10k

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$18 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CAKEUSDT	2.4812	0.0026	pay 0.0013% / 4h	1m 30s	$17.5M	$27.5M	75x
Short	Kraken Futures PF_CAKEUSD	2.4814	0.0640	get 0.0080% / 1h	1m 30s	$54K	$44K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.010%Rate

Funding earned: $128.88
Price spread: +0.010% → 0.000%: $0.99
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $109.87
Costs to cover: 0.200%
Break-even: 1.0 days

Slippage unknown: Binance: live order book, 10 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 Binance live order book, 10 min ago	0.20 bp	7.6 bp −$8	15.9 bp −$159	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
Bybit CAKEUSDT	−0.0467%	4h	2.4790	−0.088%	$5.3M	$3.1M	50x	as long as short
Variational Omni CAKE	−0.0186%	4h	2.4732	−0.324%	$509K	$419K	—	as long as short
Orderly PERP_CAKE_USDC	−0.0130%	4h	2.4818	+0.024%	$7K	$14K	10x	as long as short
ApeX Omni CAKEUSDT	−0.0101%	1h	2.4825	+0.053%	$10K	$670K	50x	as long as short
Binance CAKEUSDTlong	+0.0026%	4h	2.4812	long leg	$17.5M	$27.5M	75x
MEXC CAKE_USDT	+0.0028%	4h	2.4819	+0.028%	$14.5M	$2.9M	125x	as long as short
BloFin CAKE-USDT	+0.0031%	4h	2.4811	−0.004%	$988K	$312K	75x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+2.531%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.4826	+0.057%	$3.1M	$1.8M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.4825	+0.052%	$2.3M	$105K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CAKE_USDT	+0.0100%	4h	2.4802	−0.040%	$885K	$593K	75x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.4829	+0.069%	$2.4M	$5.1M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.4808	−0.016%	$2.6M	$2.1M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.4809	−0.012%	—	$3.8M	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0380% / S −0.0214%	1h	2.4837	+0.101%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSDshort	+0.0640%	1h	2.4814	+0.010%	$54K	$44K	10x