Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Bitget−0.048%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$540.536% of the position

Long on Bitget Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 7 days−0.002%$0 · spread now −0.048%, 7d avg −0.006%

Together, before fees−0.101%−$10 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: BingX is 0.041% cheaper against Bitget than usual: you would sell low and buy high, −$4 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	2.5191	0.0100	pay 0.0050% / 4h	1h 22m	$2.6M	$2.3M	75x
Short	BingX CAKE-USDT	2.5179	0.0100	get 0.0050% / 4h	1h 22m	—	$3.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → −0.006%: −$4.13
Slippage, 4 orders: −$31.56
Fee Bitget: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$57.69
Costs to cover: 0.536%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; BingX: live order book, 2 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, 5 min ago	2.59 bp	19.5 bp −$20	41.5 bp −$415	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	2.39 bp	7.5 bp −$8	9.3 bp −$93	21.7 bp −$2,166	41.8 bp −$20.9K

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	+0.0012%	4h	2.5154	−0.147%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.988%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5197	+0.024%	$3.1M	$2.5M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5178	−0.051%	$2.4M	$72K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5184	−0.028%	$18.0M	$31.5M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5166	−0.099%	$5.3M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5169	−0.087%	$877K	$649K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5184	−0.028%	$13.7M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5188	−0.012%	$2.5M	$5.5M	50x	as long as short
Bitget CAKEUSDTlong	+0.0100%	4h	2.5191	long leg	$2.6M	$2.3M	75x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDTshort	+0.0100%	4h	2.5179	−0.048%	—	$3.7M	—
Variational Omni CAKE	+0.0100%	4h	2.5040	−0.600%	$519K	$470K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5108	−0.329%	$11K	$682K	50x	as long as short
BloFin CAKE-USDT	+0.0114%	4h	2.5159	−0.127%	$1.0M	$368K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5156	−0.140%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.1551%	1h	2.5183	−0.033%	$54K	$37K	10x	as long as short