CAKE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0036%/8h= −3.9% APRnext payment −$0.18 per $10,000 · paid last 24h −0.002%

Price spread now: Variational Omni against BloFin−0.251%56s7-day average −0.010% · you buy dearer than you sell

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

Long on BloFin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.108%−$11 on $10k

Price spread, last 3 days (all we have)+0.424%+$42 · spread now −0.251%, 7d avg −0.010%

Together, before fees+0.317%+ Points / potential airdropVariational Omni: Active · farm board+$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.241% cheaper against BloFin than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.010%). Swap the legs. The two prices were read 56 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	2.5495	0.0136	pay 0.0068% / 4h	3h 42m	$994K	$363K	75x
Short	Variational Omni CAKE	2.5431	0.0100	get 0.0050% / 4h	3h 42m	$534K	$469K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.251%Rate

Funding earned: −$7.5
Price spread: −0.251% → −0.010%: −$24.08
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$43.58
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 25 min ago; Variational Omni: RFQ quote, 32 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, 25 min ago	0.79 bp	13.9 bp −$14	31.6 bp −$316	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 32 min ago	4.66 bp	doesn't fit	48.8 bp −$488	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	+0.0024%	4h	2.5512	+0.067%	$7K	$14K	10x	as long as short
Injective CAKE/USDC PERP	+0.0033%	1h	2.5440	−0.216%	$113	$52K	5.5x	as long as short
Hyperliquid CAKE	+0.0100%	1h	2.5544	+0.192%	$3.2M	$2.7M	3x	as long as short
Aster CAKEUSDT	+0.0100%	4h	2.5517	+0.086%	$2.4M	$78K	10x	as long as short
Binance CAKEUSDT	+0.0100%	4h	2.5514	+0.075%	$18.3M	$35.6M	75x	as long as short
Bybit CAKEUSDT	+0.0100%	4h	2.5492	−0.012%	$5.3M	$3.9M	50x	as long as short
Gate CAKE_USDT	+0.0100%	4h	2.5508	+0.051%	$896K	$680K	75x	as long as short
MEXC CAKE_USDT	+0.0100%	4h	2.5514	+0.075%	$14.2M	$2.8M	125x	as long as short
KuCoin CAKEUSDTM	+0.0100%	4h	2.5502	+0.027%	$2.5M	$5.5M	50x	as long as short
Bitget CAKEUSDT	+0.0100%	4h	2.5527	+0.126%	$2.7M	$2.6M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAKE-USDT	+0.0100%	4h	2.5505	+0.039%	—	$3.6M	—	as long as short
Variational Omni CAKEshort	+0.0100%	4h	2.5431	−0.251%	$534K	$469K	—
ApeX Omni CAKEUSDT	+0.0100%	1h	2.5494	−0.004%	$11K	$697K	50x	as long as short
BloFin CAKE-USDTlong	+0.0136%	4h	2.5495	long leg	$994K	$363K	75x
GMX CAKE/USD [WBTC.b-USDC]	L +0.0421% / S −0.0272%	1h	2.5519	+0.093%	$38K	—	100x	as long as short
Kraken Futures PF_CAKEUSD	+0.0708%	1h	2.5533	+0.147%	$55K	$37K	10x	as long as short