Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: ApeX Omni against BingX−0.012%83s7-day average +0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.482% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.062%+$6 · spread now −0.012%, 7d avg +0.054%

Together, before fees+0.059%+$6 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: ApeX Omni is 0.066% cheaper against BingX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.054%. The two prices were read 83 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX CAKE-USDT	2.5427	0.0100	pay 0.0050% / 4h	1h 50m	—	$3.5M	—
Short	ApeX Omni CAKEUSDT	2.5424	0.0100	get 0.0013% / 1h	50m 10s	$13K	$698K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now −0.012%Rate

Funding earned: $0
Price spread: −0.012% → +0.054%: −$6.57
Slippage, 4 orders: −$28.21
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$54.78
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from BingX: live order book, 15 min ago; ApeX Omni: live order book, 33 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 BingX live order book, 15 min ago	3.34 bp	10.5 bp −$11	11.4 bp −$114	27.7 bp −$2,765	53.1 bp −$26.6K
Sell ApeX Omni live order book, 33 min ago	6.06 bp	13.7 bp −$14	119.9 bp −$1,199	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
Orderly PERP_CAKE_USDC	+0.0013%	4h	2.5416	−0.043%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.051%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5454	+0.106%	$3.1M	$3.3M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5456	+0.113%	$2.4M	$89K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5425	−0.007%	$18.3M	$38.5M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5421	−0.024%	$5.3M	$4.0M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5413	−0.055%	$887K	$761K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5423	−0.016%	$14.2M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5445	+0.071%	$2.5M	$5.7M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5443	+0.063%	$2.7M	$2.8M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDTlong	+0.0100%	4h	2.5427	long leg	—	$3.5M	—
Variational Omni CAKE	+0.0100%	4h	2.5398	−0.115%	$541K	$491K	—	as long as short
ApeX Omni CAKEUSDTshort	+0.0100%	1h	2.5424	−0.012%	$13K	$698K	50x
BloFin CAKE-USDT	+0.0106%	4h	2.5408	−0.075%	$995K	$354K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5431	+0.014%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0777%	1h	2.5437	+0.039%	$57K	$37K	10x	as long as short