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 Bitget−0.070%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$600.597% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 7 days+0.001%$0 · spread now −0.070%, 7d avg +0.006%

Together, before fees+0.048%+$5 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 0.076% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CAKEUSDT	2.5558	0.0100	pay 0.0050% / 4h	36m 43s	$2.7M	$2.7M	75x
Short	Binance CAKEUSDT	2.5540	0.0100	get 0.0050% / 4h	36m 43s	$18.3M	$36.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → +0.006%: −$7.65
Slippage, 4 orders: −$37.72
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$67.37
Costs to cover: 0.597%
Break-even: never at this rate

Slippage from Bitget: live order book, 6 min ago; Binance: live order book, 5 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 Bitget live order book, 6 min ago	2.93 bp	15.9 bp −$16	33.9 bp −$339	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.20 bp	11.2 bp −$11	26.4 bp −$264	125.0 bp −$12.5K	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
ApeX Omni CAKEUSDT	−0.0016%	1h	2.5559	+0.004%	$13K	$698K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0026%	4h	2.5551	−0.027%	$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	+0.0081%	4h	2.5544	−0.055%	$1.0M	$364K	75x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5588	+0.117%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5576	+0.070%	$2.4M	$80K	10x	as long as short
Binance CAKEUSDTshort	+0.0100%	4h	2.5540	−0.070%	$18.3M	$36.2M	75x
Bybit CAKEUSDT	+0.0100%	4h	2.5530	−0.110%	$5.3M	$3.9M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5544	−0.055%	$892K	$753K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5540	−0.070%	$14.2M	$2.8M	125x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin CAKEUSDTM	+0.0100%	4h	2.5565	+0.027%	$2.5M	$5.6M	50x	as long as short
Bitget CAKEUSDTlong	+0.0100%	4h	2.5558	long leg	$2.7M	$2.7M	75x
BingX CAKE-USDT	+0.0100%	4h	2.5537	−0.082%	—	$3.6M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5557	−0.005%	$537K	$480K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5568	+0.038%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0750%	1h	2.5608	+0.197%	$55K	$39K	10x	as long as short