Funding arb · Price arb /

CAKE

all CAKE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h −0.002%

Price spread now: Hyperliquid against BloFin+0.155%7-day average +0.056% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 4 days (all we have)+0.663%+$66 · spread now +0.155%, 7d avg +0.056%

Together, before fees+0.516%+ Points / potential airdropHyperliquid: Season 2 · farm board+$52 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.100% dearer against BloFin than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.056%. Mind the row above: over the last 7 days funding on this pair cost −0.147%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CAKE-USDT	2.5097	0.0079	pay 0.0039% / 4h	55m 04s	$1.0M	$367K	75x
Short	Hyperliquid CAKE	2.5136	0.0100	get 0.0013% / 1h	55m 04s	$3.1M	$2.5M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.155%Rate

Funding earned: $4.44
Price spread: +0.155% → +0.056%: $9.98
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$6.59
Costs to cover: 0.210%
Break-even: 17.4 days

Slippage unknown: BloFin: live order book, 2 min ago; Hyperliquid: live order book, 6 min ago. Net counts fees only.

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, 2 min ago	0.80 bp	15.2 bp −$15	28.4 bp −$284	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.20 bp	doesn't fit	doesn't fit	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	+0.0015%	4h	2.5106	+0.036%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	+1.367%	$113	$52K	5.5x	as long as short
BloFin CAKE-USDTlong	+0.0079%	4h	2.5097	long leg	$1.0M	$367K	75x
ApeX Omni CAKEUSDT	+0.0089%	1h	2.5095	−0.008%	$11K	$680K	50x	as long as short
Hyperliquid CAKEshort	+0.0100%	1h	2.5136	+0.155%	$3.1M	$2.5M	3x
Aster CAKEUSDT	+0.0100%	4h	2.5129	+0.127%	$2.4M	$72K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5106	+0.036%	$18.0M	$31.3M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5100	+0.012%	$5.2M	$3.6M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5098	+0.004%	$874K	$641K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5105	+0.032%	$13.6M	$2.9M	125x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin CAKEUSDTM	+0.0100%	4h	2.5114	+0.068%	$2.4M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5128	+0.124%	$2.6M	$2.3M	75x	as long as short
BingX CAKE-USDT	+0.0100%	4h	2.5110	+0.052%	—	$3.7M	—	as long as short
Variational Omni CAKE	+0.0100%	4h	2.5101	+0.015%	$520K	$469K	—	as long as short
GMX CAKE/USD [WBTC.b-USDC]	L +0.0416% / S −0.0269%	1h	2.5126	+0.114%	$37K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0746%	1h	2.5208	+0.442%	$54K	$37K	10x	as long as short