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: Bitget against BingX+0.051%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$540.539% of the position

Long on BingX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 7 days+0.008%+$1 · spread now +0.051%, 7d avg +0.005%

Together, before fees+0.109%+$11 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: Bitget is 0.046% dearer against BingX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX CAKE-USDT	2.5558	0.0100	pay 0.0050% / 4h	2h 19m	—	$3.5M	—
Short	Bitget CAKEUSDT	2.5571	0.0100	get 0.0050% / 4h	2h 19m	$2.7M	$2.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.051%Rate

Funding earned: $0
Price spread: +0.051% → +0.005%: $4.57
Slippage, 4 orders: −$31.91
Fee BingX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$49.34
Costs to cover: 0.539%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Bitget: live order book, 3 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, 11 min ago	2.94 bp	9.9 bp −$10	11.8 bp −$118	20.6 bp −$2,059	44.2 bp −$22.1K
Sell Bitget live order book, 3 min ago	3.12 bp	19.3 bp −$19	42.3 bp −$423	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	2.5563	+0.020%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.462%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0085%	4h	2.5605	+0.184%	$997K	$356K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5596	+0.149%	$3.2M	$3.3M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5589	+0.121%	$2.4M	$90K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5557	−0.004%	$18.4M	$38.8M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5550	−0.031%	$5.3M	$4.1M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5563	+0.020%	$892K	$861K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5573	+0.059%	$14.2M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5582	+0.094%	$2.5M	$5.7M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDTshort	+0.0100%	4h	2.5571	+0.051%	$2.7M	$2.8M	75x
BingX CAKE-USDTlong	+0.0100%	4h	2.5558	long leg	—	$3.5M	—
Variational Omni CAKE	+0.0100%	4h	2.5594	+0.139%	$547K	$497K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5595	+0.145%	$13K	$696K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5562	+0.016%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0495%	1h	2.5612	+0.212%	$57K	$38K	10x	as long as short