CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0011%/8h= −1.2% APRnext payment −$0.05 per $10,000 · paid last 24h −0.002%

Price spread now: Gate against BloFin−0.376%108s7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$950.953% of the position

Long on BloFin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.153%−$15 on $10k

Price spread, last 3 days (all we have)+0.553%+$55 · spread now −0.376%, 7d avg −0.002%

Together, before fees+0.400%+$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Gate is 0.374% cheaper against BloFin than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of −0.002%). Swap the legs. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CAKE-USDT	2.5297	0.0111	pay 0.0055% / 4h	2h 55m	$995K	$360K	75x
Short	Gate CAKE_USDT	2.5202	0.0100	get 0.0050% / 4h	2h 55m	$884K	$661K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.376%Rate

Funding earned: −$2.29
Price spread: −0.376% → −0.002%: −$37.39
Slippage, 4 orders: −$68.34
Fee BloFin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$135.01
Costs to cover: 0.953%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Gate: live order book, 11 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, 6 min ago	2.76 bp	12.0 bp −$12	26.1 bp −$261	doesn't fit	doesn't fit
Sell Gate live order book, 11 min ago	2.36 bp	39.7 bp −$40	80.3 bp −$803	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
ApeX Omni CAKEUSDT	−0.0095%	1h	2.5301	+0.016%	$11K	$699K	50x	as long as short
Orderly PERP_CAKE_USDC	+0.0024%	4h	2.5209	−0.348%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+0.565%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5253	−0.174%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5244	−0.208%	$2.4M	$75K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5208	−0.352%	$18.0M	$34.6M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5210	−0.344%	$5.3M	$3.8M	50x	as long as short
Gate CAKE_USDTshort	+0.0100%	4h	2.5202	−0.376%	$884K	$661K	75x
MEXC CAKE_USDT	+0.0100%	4h	2.5214	−0.328%	$13.8M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5216	−0.320%	$2.4M	$5.5M	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	2.5209	−0.348%	$2.6M	$2.5M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5211	−0.340%	—	$3.5M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5216	−0.320%	$537K	$459K	—	as long as short
BloFin CAKE-USDTlong	+0.0111%	4h	2.5297	long leg	$995K	$360K	75x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5228	−0.273%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0827%	1h	2.5343	+0.182%	$55K	$37K	10x	as long as short