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: KuCoin against Bitget−0.059%7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1081.076% of the position

Long on Bitget Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 7 days+0.029%+$3 · spread now −0.059%, 7d avg +0.037%

Together, before fees+0.024%+$2 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: KuCoin is 0.097% cheaper against Bitget than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CAKEUSDT	2.5241	0.0100	pay 0.0050% / 4h	2h 30m	$2.6M	$2.5M	75x
Short	KuCoin CAKEUSDTM	2.5226	0.0100	get 0.0050% / 4h	2h 30m	$2.4M	$5.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.059%Rate

Funding earned: $0
Price spread: −0.059% → +0.037%: −$9.66
Slippage, 4 orders: −$83.57
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$117.23
Costs to cover: 1.076%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; KuCoin: 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, 2 min ago	2.38 bp	15.3 bp −$15	30.7 bp −$307	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	3.96 bp	41.1 bp −$41	107.9 bp −$1,079	doesn't fit	doesn't fit

CAKE on 15 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	+0.0018%	4h	2.5226	−0.059%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.788%	$113	$52K	5.5x	as long as short
ApeX Omni CAKEUSDT	+0.0083%	1h	2.5231	−0.040%	$11K	$684K	50x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5247	+0.024%	$3.2M	$2.6M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5248	+0.027%	$2.4M	$76K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5226	−0.059%	$18.0M	$33.8M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5215	−0.103%	$5.3M	$3.7M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5210	−0.123%	$878K	$670K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5227	−0.055%	$13.8M	$2.9M	125x	as long as short
KuCoin CAKEUSDTMshort	+0.0100%	4h	2.5226	−0.059%	$2.4M	$5.5M	50x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAKEUSDTlong	+0.0100%	4h	2.5241	long leg	$2.6M	$2.5M	75x
BingX CAKE-USDT	+0.0100%	4h	2.5225	−0.063%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5191	−0.198%	$536K	$458K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0417% / S −0.0269%	1h	2.5233	−0.032%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0830%	1h	2.5257	+0.065%	$54K	$37K	10x	as long as short