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 Bitget−0.071%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$970.969% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 4 days (all we have)+0.109%+$11 · spread now −0.071%, 7d avg −0.023%

Together, before fees+0.144%+$14 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 0.048% cheaper against Bitget than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CAKEUSDT	2.5459	0.0100	pay 0.0050% / 4h	2h 42m	$2.7M	$3.0M	75x
Short	Gate CAKE_USDT	2.5441	0.0100	get 0.0050% / 4h	2h 42m	$887K	$858K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → −0.023%: −$4.75
Slippage, 4 orders: −$69.89
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$101.65
Costs to cover: 0.969%
Break-even: never at this rate

Slippage from Bitget: live order book, just now; Gate: live order book, 44 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, just now	2.95 bp	13.6 bp −$14	37.3 bp −$373	doesn't fit	doesn't fit
Sell Gate live order book, 44 min ago	4.31 bp	35.7 bp −$36	78.6 bp −$786	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	+0.0006%	4h	2.5454	−0.020%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.075%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5491	+0.126%	$3.1M	$3.3M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5470	+0.041%	$2.4M	$99K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5451	−0.031%	$18.2M	$39.0M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5448	−0.043%	$5.3M	$4.1M	50x	as long as short
Gate CAKE_USDTshort	+0.0100%	4h	2.5441	−0.071%	$887K	$858K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5452	−0.027%	$14.2M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5459	0.000%	$2.5M	$5.7M	50x	as long as short
Bitget CAKEUSDTlong	+0.0100%	4h	2.5459	long leg	$2.7M	$3.0M	75x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5449	−0.039%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5430	−0.113%	$543K	$497K	—	as long as short
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5457	−0.008%	$13K	$696K	50x	as long as short
BloFin CAKE-USDT	+0.0104%	4h	2.5459	0.000%	$996K	$352K	75x	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0420% / S −0.0272%	1h	2.5460	+0.004%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0497%	1h	2.5483	+0.094%	$57K	$38K	10x	as long as short