Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h −0.011%

Price spread now: ApeX Omni against BloFin−0.137%7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$500.498% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.289%−$29 on $10k

Price spread, last 3 days (all we have)+0.528%+$53 · spread now −0.137%, 7d avg +0.044%

Together, before fees+0.240%+$24 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: ApeX Omni is 0.181% cheaper against BloFin than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CAKE-USDT	2.5517	0.0092	pay 0.0046% / 4h	2h 30m	$996K	$354K	75x
Short	ApeX Omni CAKEUSDT	2.5482	0.0100	get 0.0013% / 1h	30m 24s	$13K	$696K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.137%Rate

Funding earned: $1.64
Price spread: −0.137% → +0.044%: −$18.11
Slippage, 4 orders: −$27.85
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$66.31
Costs to cover: 0.498%
Break-even: 289.8 days

Slippage from BloFin: live order book, 56 min ago; ApeX Omni: live order book, 58 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 BloFin live order book, 56 min ago	0.78 bp	12.7 bp −$13	28.2 bp −$282	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 58 min ago	4.50 bp	13.9 bp −$14	95.9 bp −$959	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	+0.0009%	4h	2.5511	−0.024%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.302%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDTlong	+0.0092%	4h	2.5517	long leg	$996K	$354K	75x
Hyperliquid CAKE	+0.0100%	1h	2.5557	+0.157%	$3.2M	$3.4M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5520	+0.013%	$2.4M	$99K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5523	+0.023%	$18.3M	$38.9M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5510	−0.027%	$5.3M	$4.1M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5509	−0.031%	$889K	$858K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5522	+0.020%	$14.3M	$2.9M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5514	−0.012%	$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	2.5520	+0.012%	$2.7M	$2.8M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5531	+0.055%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5459	−0.227%	$544K	$497K	—	as long as short
ApeX Omni CAKEUSDTshort	+0.0100%	1h	2.5482	−0.137%	$13K	$696K	50x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5520	+0.010%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0495%	1h	2.5595	+0.307%	$57K	$38K	10x	as long as short