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: Binance against BingX−0.012%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on BingX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.149%+$15 on $10k

Price spread, last 7 days+0.020%+$2 · spread now −0.012%, 7d avg +0.013%

Together, before fees+0.169%+$17 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: Binance is 0.025% cheaper against BingX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX CAKE-USDT	2.5393	0.0100	pay 0.0050% / 4h	1h 15m	—	$3.6M	—
Short	Binance CAKEUSDT	2.5390	0.0100	get 0.0050% / 4h	1h 15m	$18.2M	$38.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.012%Rate

Funding earned: $0
Price spread: −0.012% → +0.013%: −$2.46
Slippage, 4 orders: −$17.7
Fee BingX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$40.16
Costs to cover: 0.377%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Binance: live order book, 11 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, 10 min ago	1.97 bp	8.3 bp −$8	10.2 bp −$102	21.0 bp −$2,095	42.5 bp −$21.3K
Sell Binance live order book, 11 min ago	0.59 bp	10.3 bp −$10	19.8 bp −$198	115.5 bp −$11.6K	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	+0.0020%	4h	2.5383	−0.039%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.185%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5426	+0.130%	$3.2M	$3.2M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5404	+0.042%	$2.4M	$87K	10x	as long as short
Binance CAKEUSDTshort	+0.0100%	4h	2.5390	−0.012%	$18.2M	$38.2M	75x
Bybit CAKEUSDT	+0.0100%	4h	2.5380	−0.051%	$5.3M	$4.0M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5384	−0.035%	$886K	$765K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5390	−0.012%	$14.1M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5407	+0.055%	$2.5M	$5.7M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5403	+0.039%	$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	2.5393	long leg	—	$3.6M	—
Variational Omni CAKE	+0.0100%	4h	2.5427	+0.133%	$533K	$492K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5398	+0.020%	$13K	$699K	50x	as long as short
BloFin CAKE-USDT	+0.0117%	4h	2.5392	−0.004%	$994K	$364K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5390	−0.013%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0777%	1h	2.5445	+0.203%	$57K	$37K	10x	as long as short