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: Gate against BingX−0.055%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$940.941% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 4 days (all we have)+0.093%+$9 · spread now −0.055%, 7d avg +0.005%

Together, before fees+0.230%+$23 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 0.060% cheaper against BingX than usual: you would sell low and buy high, −$6 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	2.5440	0.0100	pay 0.0050% / 4h	1h 24m	—	$3.6M	—
Short	Gate CAKE_USDT	2.5426	0.0100	get 0.0050% / 4h	1h 24m	$887K	$765K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → +0.005%: −$6
Slippage, 4 orders: −$69.12
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$100.12
Costs to cover: 0.941%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Gate: live order book, 57 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	3.35 bp	10.2 bp −$10	12.8 bp −$128	22.9 bp −$2,292	47.5 bp −$23.7K
Sell Gate live order book, 57 min ago	2.15 bp	35.7 bp −$36	86.4 bp −$864	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	+0.0020%	4h	2.5429	−0.043%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	0.000%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDT	+0.0052%	4h	2.5413	−0.106%	$998K	$354K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5472	+0.126%	$3.2M	$3.2M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5453	+0.050%	$2.4M	$87K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5434	−0.023%	$18.3M	$38.3M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5420	−0.079%	$5.3M	$4.0M	50x	as long as short
Gate CAKE_USDTshort	+0.0100%	4h	2.5426	−0.055%	$887K	$765K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5435	−0.020%	$14.1M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5438	−0.008%	$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 CAKEUSDT	+0.0100%	4h	2.5439	−0.004%	$2.7M	$2.8M	75x	as long as short
BingX CAKE-USDTlong	+0.0100%	4h	2.5440	long leg	—	$3.6M	—
Variational Omni CAKE	+0.0100%	4h	2.5382	−0.229%	$533K	$492K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5393	−0.185%	$13K	$697K	50x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5440	−0.001%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0777%	1h	2.5447	+0.029%	$57K	$37K	10x	as long as short